When looking for an small business accountant, the best place to start is by reviewing exactly what services you need now and in the future. If you are starting out as a small business, then it may not make sense for you to pick a larger accountant. they tend to offer more complex and costly services. You realistically just need to meet HMRC and Compnaies House filing requirements.
What Do You Need?
To figure out which services you need from a small business accountant, it’s best to look at the main taxes, to see which apply to you. These are; corporation tax, personal tax, VAT and PAYE. Once you know what services you will need, you can then consider other factors which may be important for your business.
Affordability
The first step is to look at the cost. When looking for a small business accountant, you will naturally want one which is affordable. An accountant may be able to provide an excellent service, but if they’re going to but strain on your cash position, it may not be the right fit. We always advise getting a few quotes to make sure you get the right value for money.
Expertise
For a small business accountant, you next want to make sure that they have the right level of expertise and qualifications. Bigger practices may not be as aware of what services you need and don’t need, so may look to add on additional services that you don’t require. Additionally, not all may be familiar with certain industries, such as the construction industry or cryptocurrency. It's best to talk this through with them to make sure you don’t have any issues in the future.
Location
Finally, location may be another aspect to look at when picking a small business accountant. You may want to have easier access in the early stages. Being able to call in branch to talk through your needs or even just to drop off information might suit you. Advancements in technology have made this less of a focus for a lot of businesses, but this may be something that you would prefer.
Does My Small Business Need An Accountant?
A question you may be asking as well is, 'does my business actually needs an accountant'. Especially if it is still a small business. There are a lot of additional benefits to using an accountant as opposed to trying to do everything yourself. You gain access to years of experience and free up a lot of time to allow you to focus on your business. To find out more on this we have produced an article to break down the benefits of having an accountant.
Choose The Right Accountant
Hopefully this will help to guide you with what aspects you should look out for when trying to pick a small business accountant. If you would like to discuss further what services your small business would need going forward, or get a quote from us for your business, please contact us and we can reach out to get you the best deal.
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