- Finance

How to Choose and Accountant for Your Business

Choosing an accountant for your business can be a difficult task but an important one to get right.  They don’t only provide you with standard services but they give great advice on how to save tax and make the most of your money.  As such the actual relationship is crucially important between a business and their accountant.  Although there will be many small firms (sometimes self-employed accountants) there are many accountants such as www.gsmaccountants.co.uk that are well established firms that have been doing this for many years and have buckets of experience.  Here are some tips from us that may help you on this journey:

Select Accountant Before Start Up

When you are starting up your business, one of the considerations from the offset should be getting an accountant in place before you even start trading.  Normally people jump straight into creating their business with two feet and don’t consider this part beforehand.  Accountants will help you with budgeting, salary setting, payroll systems, tax considerations etc therefore are key to the success of any company.  The central London accountants list is extensive which is why its’ important to choose the right one.

Don’t chose an Accountant solely on Price

I’m sure if you trawl the internet for accountants you could find ones at very low prices.  Remember how important an accountant is to your business.  Saving £10 or £20 a month on an accountant could cost you thousands of pounds further down the line if mistakes are made.  Prices of accountants range quite significantly based on the reputation, experience and qualifications of them.  It’s important to research the company well before selecting them and we would even recommend a face to face meeting with them.  Checking out other customers reviews on the internet can also prove invaluable. Accountants sometimes also charge differently (which can be confusing) which may be monthly for some services or annually for others (for example payroll services, VAT or tax returns).  It’s important you understand these costs beforehand and make good comparisons to similar accountant firms.