Guide to Choosing an Accountant

A good accountant will:
• Help you to run your business in the most tax efficient way possible
• Help you to understand what taxes you'll need to pay
• Make sure you don't miss a tax deadline
• Make sure your tax submissions are accurate
• Advise on ways to manage your business
• Help you maximise your tax allowances
• Provide proactive tax advice throughout the year

If your accountant isn't doing the above, it could be time to change.

How to find the perfect accountant for you - it might sound obvious now, but in the excitement of getting your first project or starting your business, you may forget about appointing an accountant and then rush into it later, only to regret that decision in the long run. Making the right choice when you first set up in business will save both time and money.

We've put together our top tips when choosing an accountant below:

Are they experienced in providing services to the self employed?
You could be forgiven for thinking that it doesn't really matter which accountant you choose as they are all the same, providing that they are qualified. But this is definitely not the case. You need an accountant that has extensive experience and knowledge with sole traders and freelancer's – they can offer you the best way to handle your accounts.

Can you easily contact your accountant?
Call centre type firms do usually offer slightly lower rates but it's unlikely you'll ever speak to the same person twice. Make sure you choose a company that promises they’ll stay in touch with you and get back to you quickly when you need to talk.

How do they charge you?
Many accountants will charge you every time you call, email or meet with them. If you encounter problems with your taxes you could end up with a big accountancy bill at the end of the month. Generally local accountants will provide you with a set fee to do do your year end accounts naturally you'll think this includes everything else throughout the year. However this does not include all those extra accountancy costs that will rack up whenever call your accountant, and as tax is so complicated you'll be calling your accountant quite a bit.

Due to this standard local accountant model most small businesses restrict the contact they have with their accountant due to fears of heavy charges and instead often rely on advice from friends, family and colleagues which is not the ideal situation considering the complicated rules surrounding tax.

Rather than bill by the minute accountants look for accountancy firms that offer a fixed fee services - they'll provide you with all the advice and information you need without the worry of additional charges. 

Finding the genuine article
Beware of accountants bearing gifts of huge expense policies, as they are rarely true. Many companies have sprung up recently to tap into the huge self employed market, but they have little experience in managing a freelancer's needs. At best you may waste time looking for another firm, and at worst you could end up having to pay back taxes or even penalties. And finally, remember this:

If they don't have the word 'accountancy' in their company name, they probably aren't accountants!

If you'd like to find out more information on the services Easy Accountancy offers, ask us a question or read our 'Why choose Easy Accountancy' pages.