Tax laws are being tweaked and updated every year which makes it difficult for individuals and business owners to keep up to date with all of the information they need to make sound financial decisions. Fortunately, good accounting firms will keep their clients up to date with the changes in legislation to ensure they are compliant and making use of the tax reliefs that are available.
Choosing the right firm is important and no matter if you’re a business requiring a complete accountancy service or an individual in need of tax advice, here are a few things you should definitely take into consideration:
The first and foremost thing you have to think about is your accountant’s fees to ensure that it fits your business or personal budget. Every accounting firm calculates their fees either per hour or at a fixed rate. The overall amount charged can vary from one firm to the next. Ensure that you discuss how much everything is going to cost before deciding to make an agreement. Remember that the cheapest firm probably isn’t the best, and might not be able to offer some of the services you need.
Check that the firm you want to work with employs accountants who are chartered or certified and thus have passed the rigorous examination process required to achieve this status.
Clarify whether the firm offers a range of accounting services. Especially if you are a small or large business, you’d want an accounting firm that will do far more than complete your tax return but can also offer you financial management, auditing/reporting, cash flow analysis, and succession planning services. Check that the firm is using the latest technology like cloud accounting which can really benefit your business.
To ensure that you will get the most out of the professional and quality service you need, avoid dealing with accountants who make you feel intimidated or talk in terms you don’t understand and go for a firm whom you’ll be comfortable with in discussing your financial concerns.
Albert Goodman is a full-service accountancy, tax, financial planning and business advisory firm, considered as one of the largest accountancy and business services firms in the South West. We have a team of highly skilled, talented professionals who strive to stay committed to our philosophy which is to be the firm that contributes most to our clients’ success. Give us a call on 0330 333 5039 to speak with one of our experts today.