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How to find a good accountant

Using this Best Bizz article, you can find a good accountant within minutes.

Having an accountant can be very beneficial if you own your own business or are otherwise self-employed. Accounting professionals are able to free up more of your time by handling a wide range of tasks, such as bookkeeping and tax returns. Your accountant’s advice will become increasingly valuable as your business grows, covering areas such as financial reporting, compliance, payroll, tax efficiency, business planning, and more.

Most importantly, find a good accountant provides you with the accurate financial information you need to make wise decisions, helping your business grow faster and saving you money at the same time.

Should my small business have an accountant?

Your business’s accounting requirements will quickly become too much for you to handle on your own unless you remain very small. In addition, if you are not a trained accountant, this can cost you both time and money, since it may take you longer to complete the task and you may make costly mistakes. You should consider engaging a professional if you are spending more than four hours a week on your accounts, or if you have plans for growth.

How can an accountant help my business?

With an accountant on your team, you have more time to spend doing what you do best. Reducing the likelihood of errors in tax, financial reporting, and compliance also reduces the risk to your business. In addition, find a good accountant can actively save you money by improving cash flow, increasing tax efficiency, and sourcing funding. Furthermore, he or she can provide valuable general support by providing general business advice, discussing your ideas, and stress-testing your business plans.

These are some of the services your accountant can provide.

  • Accounting and bookkeeping.
  • Make sure you pay the right amount of taxes.
  • Making taxes more efficient.
  • Compliance with financial regulations.
  • Planning your business.
  • Finding funding for expansion
  • Management of growth
  • Creating value for your business
  • Succession planning

Learn more about our accounting services.

Choosing an accountant

Best Bizz has two ways to find a good accountant.

You can use our Connect tool to find a good accountant. Describe what you need in as much detail as you can, and our system will match you with the nearest accountant.

Also, you can search and browse for accountants. You can view a list of accountants in your area sorted by distance from your postcode. If you want to find accounts with particular expertise, you can refine your search (for example).

Does this accountant fit my needs?

You should meet your accountant in person before engaging in their services. Because you’ll be working closely together, you’ll need to feel comfortable working with them.

Ensure that they can meet all your needs by asking them about their range of services. It is also a good time to learn more about their qualifications and experience. No qualification is a legal requirement for find a good accountant, however, you should ensure that he or she is a member of a body that has been officially approved by the UK, such as AICPA, CIMA, ICAEW, or ACCA. Check if the individual is a chartered accountant – chartered status is an internationally recognized level of professional excellence.

The certificates of chartered accountants will be displayed in their offices. If necessary, you can also contact the relevant organization to confirm.

In addition, you should also discuss the fee structure with your accountant. A good accountant’s goal is to save you money overall (while protecting you from risks), so ask them to explain how their services will benefit you. Based on the extent of the services that your accountant provides, you will need to pay a certain amount. Payment methods are also subject to change. A regular monthly fee may be associated with some services (such as annual accounts and bookkeeping), while an hourly rate may be charged for others (such as tax planning advice). The size of your business is also a factor, with bigger businesses paying more.

See how much accounting services cost.

Small independent firm or large accounting firm?

Think carefully about whether the size of your accounting firm is appropriate for your needs. In general, you should match the size of your accounting firm with the size of your company. As such, if you are a contractor or sole trader, a small firm is probably the best fit, but if you are a fast-growing startup with a big vision, you should look into a medium-sized firm.

Testimonials, reviews, and reputation

Accounting firms listed on sites like Trustpilot allow you to see ratings and reviews. If the reviewer is much larger or smaller than your own business, their assessment may not be as useful. Your accountant should also be willing to share with you testimonials from their clients.

Is the location of your accountant important?

Since your accountant can effectively work remotely, it doesn’t matter too much where he or she is located technically. Even so, face-to-face meetings with your accountant are still valuable and can be more effective when it comes to getting added value. Meeting in person allows you to discuss your business in broader terms and receive business advice in general. Thus, if you need more than basic accounting services, you need to be within easy driving distance so your accountant can visit you in person.

Here are some questions to ask an accountant.

1. How much will you charge me?

That’s the first question that comes to mind. In any case, it’s important to weigh them against the services that are included and the value they might bring.

2. Are there any services included in your fees?

By getting an itemized quote from your accountant, you can compare them with other firms.

3. In addition to your accountant, what makes you different?

You will be tempted to choose most accounting firms because they offer good service. Compare their answers to this question to see who responds with more than just a marketing spiel.

4. Is there a dedicated accountant who will assist me?

In general, it is better to have one point of contact with your accounting firm, even if your firm has more than one find a good accountant on staff. By doing this, continuity is ensured, relationships are built, and errors and missed deadlines are reduced.

5. What is the best way for us to stay in touch?

A successful accounting firm should be very diligent about communicating with its clients. Discuss how often it is necessary to communicate and what forms this can take – e.g. face-to-face meetings, phone calls, video conferencing. Regular meetings should be held even if there doesn’t seem to be anything to discuss, as issues may slip under the radar until discussed.

6. Which issues should we discuss regularly?

Continuing from point 5, you might want to talk to your accountant about the matters that you should be considered on an ongoing basis. Financial reporting, tax planning, credit management, and cash flow management are all examples of matters that might be addressed.

7. What are the special considerations for my type of business?

By asking this question, you can determine how much industry knowledge your accountant has, as well as is useful in and of itself. Find a good accountant should have a lot of experience with a similar type of business, so they are familiar with all the risks and opportunities.

8. Can you provide any other services?

You may want to expand the services you receive from your accountants as your business grows (e.g. funding for growth, R&D tax claims, ). Find out in advance whether your chosen firm offers the expertise you need before scaling up, and also learn how your accountants will add value on a day-to-day basis.

9. Do you run into issues with clients that are common?

You can benefit from your accountant’s experience with similar businesses, so you can avoid those mistakes. Alternatively, if they don’t reply much to your question, they might not have the level of experience you’re looking for.

10. Will you make sure I don’t miss deadlines?

Keeping you on the right side of HMRC is one of your accountant’s most important tasks. Rather than expecting you to remember your obligations, an accountant on the ball will be ready and eager to remind you of them.

What did you think of this article? Our articles on how to become find a good accountant and how to change accountants might also be of interest to you.

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