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Where Your Finances Feel at Home

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0116 220 7646

Where Your Finances Feel at Home

Reviews

How to Choose the Right Accountant for Your Business

Choosing an accountant can be one of the most important professional decisions you make as a business owner.

A good accountant does much more than prepare accounts.

Government guidance for company directors notes that accountants can help businesses save time, understand taxation, avoid costly filing mistakes, monitor cash flow and potentially identify signs of financial difficulty early. (GOV.UK)

How to Choose the Right Accountant for Your Business

So how do you choose the right one?

  1. Start with the services your business actually needs

Before searching for an accountant, consider what you need help with.

For example:

  • Annual accounts
  • Corporation Tax
  • Self-Assessment
  • VAT
  • Payroll
  • Bookkeeping
  • Tax planning
  • Cash-flow management
  • Business growth
  • HMRC correspondence

A sole trader starting their first business may have very different requirements from an established limited company employing 30 people.

HMRC specifically recommends checking that a tax agent provides all the services you need and has appropriate experience for your sector or size of business. (GOV.UK)

  1. Check qualifications and professional standing

This is particularly important.

HMRC warns that anyone can call themselves a tax agent and they do not necessarily need professional qualifications. It therefore recommends checking whether an adviser holds relevant qualifications or belongs to an accountancy or tax professional body. (GOV.UK)

For business owners searching online for an accountant in Leicester, price should therefore not be the only deciding factor.

Ask who will actually handle your accounts and what professional experience they have.

  1. Look for relevant business experience

Your accountant should understand the type of business you operate.

A growing company may need advice around payroll, VAT, Corporation Tax and cash flow, while a self-employed consultant may have very different concerns.

Zak Partnership works with a range of businesses and individuals, including owner-managed businesses, consultants, healthcare professionals, charities and organisations requiring bookkeeping, payroll and taxation support.

Relevant experience makes conversations easier because your accountant can understand the commercial context behind the figures.

  1. Ask how accessible your accountant will be

This is often overlooked.

Will you speak to the same person each time?

Can you ask questions during the year?

Will your accountant contact you before deadlines, or only when something is due?

Accountancy should be a relationship rather than an annual transaction.

HMRC advises prospective clients to meet the person who will interact with HMRC on their behalf and understand the service and fees before appointing them. (GOV.UK)

  1. Understand exactly what you are paying for

The cheapest accountant is not necessarily the most economical.

HMRC recommends reviewing an agent’s terms and conditions and understanding their fees, contract and exactly what service is being provided. (GOV.UK)

Ask whether the fee includes:

  • Accounts preparation
  • Tax returns
  • Payroll
  • VAT
  • Bookkeeping
  • Tax planning meetings
  • HMRC correspondence
  • General business advice

This makes comparisons much more meaningful.

  1. Check reputation and reviews

Before appointing an accountant, look at their history and reputation.

HMRC itself suggests researching online reviews and an agent’s wider reputation. (GOV.UK)

Do not simply look at the star rating. Read what clients actually say.

Are clients talking about responsiveness, professionalism, tax knowledge and long-term relationships?

Those details often tell you much more.

  1. Remember: you still have responsibility

Hiring an accountant does not mean handing over responsibility completely.

HMRC makes clear that even when you use an agent, you remain responsible for your own tax affairs. You should review returns before they are submitted and should never give an agent your HMRC login credentials. (GOV.UK)

A professional accountant should have a proper authorisation process for dealing with HMRC on your behalf. (GOV.UK)

Looking for an accountant in Leicester?

The right accountant should give you more than completed forms. You should have someone who understands your business, communicates clearly and helps you make better financial decisions.

Talk to Zak Partnership before you decide

Zak Partnership is a family-founded firm with decades of experience supporting businesses and individuals.

If you are looking for a Chartered Certified Accountant in Leicester, changing accountants or starting a new business, speak to us before making your decision.

Book a FREE initial consultation with The Zak Partnership.

Tell us about your business, your challenges and where you want to go. We will discuss how we can support you and whether we are the right fit.

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