09 Feb 5 signs it’s time to change your accountant
When it comes to selecting an accountant to take care of your finances, the choice can be a little overwhelming and this can sometimes cause businesses to make the wrong decision. A good accountant should deliver on their promises. They should be able to make you savings and will advise on any potential tax benefits. It is also important that your accountant makes life a bit easier by advising on complicated matters related to payroll, HMRC and tax. So, how do you know when it’s time to make a switch?
1. Changes in your business
As your business evolves, there might be some significant changes which affect the services you require. For instance, you may be making the transition from a sole trader to a limited company and your accountant no longer has the expertise to be able to assist you. If this is the case, it may be worth using an accountant who is more suitable for your needs.
2. A breakdown in your relationship
It is important that you have a good relationship with your accountant, so that you can work together and you feel that you are getting real value. Business relationships often break down when the supplier is not delivering on their promises. It is imperative that your accounts are managed efficiently and, if this doesn’t appear to be the case, you may want to consider jumping ship.
3. Slow to respond
With the introduction of more efficient accountancy software, such as cloud accountancy, the whole process should be much simpler and easier to manage. If your accountant isn’t keeping up with this kind of technology, it may be worthwhile considering an accountancy firm who do.
4. Being charged too much
It is worthwhile researching accountancy rates to ensure yours is competitive. If you discover you are being over charged for your services, no one would blame you if you decided to go for a better option.
5. Not diverse enough
It is a good idea to use the one accountant for all the services you need, for instance, if you are looking for them to take care of both your payroll and your tax. If this isn’t offered by your current accountant, you might want to consider one who can keep everything in the one place.