Choosing the right accountants for your business can be difficult and daunting in equal measure. Why? Because if you want to get the most out of your new accountants, then you shouldn’t see them as someone who just does your books, but someone who is a business partner, on hand to offer advice and guidance as your business grows.
We know that for many local businesses around Aylesbury and elsewhere the idea of an accountant who does more than just your books is a bit of an eye-opener. It’s why we’ve put together the 5 questions you should think about before you choose an accountant. They apply whether you just want a bog-standard accountant to do your books or are thinking you need accountants, who will also help you grow your business, either now or in the future.
With cloud-computing and Making Tax Digital, your accountant will always have access to your real-time financial data, which means they could be based anywhere in the world . The question is more about how you want to work as a company. Do you prefer face-to-face meetings? Would you like your accountant to attend occasional meetings to give a financial overview of your company? If so, you may be better off choosing an accountant who is based in Aylesbury or the surrounding area, so they are on hand when you need them.
If you would prefer to avoid face-to-face meetings (we have several clients who feel that way!), then you could choose an accountant anywhere in the world from Aylesbury to Antigua!
If you Google ‘accountants in Aylesbury’, you’ll get a wide range of accountants pop up, who will all offer accounts preparation, VAT returns, Corporation Tax and personal tax services. But, ideally, what you need is accountants, who have experience of tax planning for companies of a similar size and revenue to yours. If you’re a SME with a turnover of £1m, there is no point going for chartered accountants who specialise in sole traders.
Also think about whether your accountants need to have any sector expertise. If you want your business to grow, then having someone who understands your unique challenges in the marketplace could be invaluable . There’s no point wanting to trade overseas, if your accountant doesn’t understand imports and exports.
Over the years, we’ve worked with a wide range of businesses covering everything from agriculture to consultancy, building trades to property investment, so if you’re looking for an ‘accountant Aylesbury’ and need specific sector advice, give us a call.
VAT Returns, Corporation Tax, personal tax – probably phrases you’re familiar with, but what about debtor’s ledger, forensic accounting or HMIT? Accountancy is rife with jargon, which can make conversations with your accountant a bit confusing! If you don’t mind jargon, then fine, but we find our clients love plain-speaking, jargon free accountancy services. After all most of them are stressed enough running their business without having to second guess what their accountants need!
Buckinghamshire is full of tax accountants who will manage your accounts and complete your personal tax forms, but will they proactively help you save money? Will they give advice about saving costs and, most importantly, boosting sales?
Most accountants love nothing more than finding ways to save you money, but how many do you know that can advise you on how to grow your revenue? Both are equally important to ensure increased profits which can be either extracted for your own enjoyment or ploughed back into the business to fuel future growth.
Yes, you can get an Aylesbury accountant, who will submit your accounts on time and ensure your business is always HMRC compliant, but how about getting them to help you take your business to the next level? Think about it. They are one of the few people who have access to all your business information. They produce your management accounts which means they know your numbers inside and out, so identifying trends and areas for improvement should be a cinch.
Business advice, help writing business plans, process management – all areas an accountant can help with. And given you’re busy running your company, wouldn’t be great if someone else with a fresh pair of eyes was on hand to spot ways to improve your business’s efficiency and effectiveness?
And it’s always worth looking for an accountant who has expertise outside accountancy. Our experience also extends to recruitment and HR, so if you need help recruiting the best people for the job, or advice on outsourcing, we’re just a phone call away.
Before you make any final decision on your accountant, we always recommend you interview a few before you decide, as this will make it a lot easier for you to decide which one is best for your company.
And learn to trust your intuition. Yes, checks into their services, pricing and experience are all important, but if you don’t feel you can work with them, then the chances are that relationship will fail.
Remember, good local accountants will help your business grow, so you need someone you are 100% comfortable with and know they have your company’s best interests at heart.
Over the years, we’ve helped ambitious business owners from Aylesbury and across Buckinghamshire with not just their accounts, but also their business growth. So, if you would like to learn more about our accountancy and business growth planning services, get in touch today.
We help ambitous small business owners grow their personal wealth and achieve their ideal work/life balance.
267 3184 85
Palmers Business Support was founded to help ambitous small business owners grow their personal wealth and achieve their ideal work/life balance. With accountancy as the central pillar of our offering, we take the view that timely accounts and efficient compliance is the bare minimum our cients should expect.