If you run a small business, making the right choice is particularly important because at the outset your accountant is likely to be a vital adviser in the way your whole business is set up – as well as preparing your personal tax returns and advising you how to minimise tax. He or she will not only assist with preparing your accounts, but may also help you to comply with legislation, raise finance, manage growth and even give a hand with setting prices and profit margins.
There are a few key steps you can take to maximise your chances of finding an accountant who meets your needs.
First, see if he or she is a member of one of the three main professional bodies — The Institute of Chartered Accountants, the Association of Chartered Certified Accountants and The Chartered Institute of Management Accountants. Anyone can call himself an accountant or bookkeeper even if he has no professional qualifications. But if any laws are broken, it will be you, not your accountant, who pays the penalty. Choose someone who already deals with companies of a similar size to yours so they will have experience of the problems you are likely to face and will be accustomed to claiming any tax breaks that may be available.If you are an individual just wanting help with your Tax Return you don’t need a highly qualified corporate accountant!
Like IFAs, an accountant should be a lifelong trusted adviser, who needs to know and understand you.So chose carefully, and find a local accountant you trust via www.FindaPro.co.uk