02 Apr What to look for in an accountant
All accountants are qualified is a myth.
You need to do your research and ask for the advisor’s credentials. If they are qualified they will be registered with a membership body and they will have a unique reference number, 80% of people do not ask their advisors about their credentials as they believe all accountants are qualified. This is not true as you can be unqualified and act as an accountant. Don’t be afraid to ask your accountant for this information.
Accountancy is a wide spread service and differs extremely, so it is crucial that you choose your accountant carefully. Think about what your business needs from an accountant, and go with the one that ticks most of your boxes. For example, if they deal with big companies and you are a small business this is not the right fit for you.
A good accountant will be proactive and want to speak with you on a regular basis providing regular support and guidance. They will genuinely be interested in your business and how it works. They will keep you up to date with any changes in legislation that will affect you and your business.
I often outsource tricky specialist tax queries and if your leaning towards a small accountancy practice it is worth asking what they do in these situations should it happen to you?
Do you like them?
Finally, its important that you use somebody you like that is as passionate about your business as you are. To get the most out of your accountant and get the best tax planning advice you will need to work closely with them and be open and trusting. This will only happen if you like each other and are comfortable with each other.
A good accountant will maximise your potential and minimise your tax!