How frequently you need to deal with your accountant depends on your business, and what services it needs.
What services do I need from an accountant?
Your accountant might look after your accounts and annual tax return. Or, they might manage your quarterly VAT returns, or even run your monthly payroll.
The services that you need from an accountant largely depend on:
The business: For instance if you have employees you might need support with payroll. If you’re a contractor who uses sub-contractors, then you might want help with your CIS return.
The people in the business: In short, does your business have the resources, such as time and knowledge, necessary to manage the work, or is it more efficient for you to outsource it?
How much help can I expect from an accountant?
The level of support you can expect from your accountant can depend on whose services you decide to use. Some accountants offer unlimited business support, and you can contact them as often as you need. Others charge additional fees for queries, either as a flat fee per query or on the basis of an hourly rate – which can put some people off!
How much help do you need?
It’s worth considering how much support you think you might need from your accountant. It can be useful to have more input from someone who has experience of helping businesses running efficiently, but this might not always be appropriate for everyone.
You should also consider the services an accountant can offer beyond accounts, tax returns, payroll, and so on. For example, your accountant can also:
Provide evidence of your income to loan, mortgage and credit companies on your behalf.
Help you make decisions by analysing your financial information, and helping you make financial projections.
Can I change my accountant?
Absolutely! You can switch to a new accountant whenever you need to, even in the middle of a financial or tax year. Your new accountant will normally manage the move on your behalf. You will need to confirm they have authority to do so. Just be aware that you may still have to pay your previous accountant if you leave early.
We charge low fees which are spread out across the year on a fixed monthly basis, making it easier to manage your cashflow. Our fees include unlimited on-going support, as well as proactive reviews to keep you in tip-top shape. Talk to the team on 020 3355 4047, or grab an instant quote online.
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