There are many reasons why a business may look at changing accountants, but they may be put off by the process. Making the switch can seem a bit daunting and scary, but it really is a lot more simple than you may think. But when is the right time to do it?
Self-employed individuals may decide to look at changing accountants at the beginning of April, when the tax year has ended and the new tax year is starting. Alternatively, if they are operating via a limited company, they may want to wait until the company financial period ends. Whilst there are benefits to doing this, there are also many good reasons to not delay and make the switch immediately.
Unhappy with your current accountant
When running a business, you may need an answer to an urgent query and don’t want to be left in limbo waiting for days for someone to get back to you. If you are paying your accountant to provide a service, but can never get hold of them, then you will quickly become dissatisfied.
At Blue Spire, we believe that building a strong relationship with our clients is vital, which is why we ensure our clients have a dedicated, regular contact person, to help solve queries and answer any questions in a timely and efficient manner.
Are you paying too much?
Cost is one of the biggest reasons why people look at changing accountants. Is your current accountant charging you on time spent, or on a fixed fee basis?
It’s all very well being quoted a low fee to do your accounts or tax return, but if you are being charged for time spent and there are lots of queries or complications with the accounts process, then the fees can quickly add up. Choosing an accountant that offers fixed fees, will ensure that you know exactly what to expect when the bill comes in.
Are they moving with the times?
In today’s busy world, technology can save huge amounts of time and stress for individuals and business owners. You want an accountant who uses technology that makes your life easier.
At Blue Spire, Xero has been our preferred cloud-based accounting software for many years now, and we are very proud to have obtained Gold Partner status. Find out more here.
Do they use too much technical jargon?
Are you often left confused after speaking to your accountant? Running a business can be stressful enough and you don’t necessarily want to know the technicalities of how your accounts and tax are calculated.
We understand that our job as your accountant is to take care of the financial side for you so you are able to concentrate on the day-to-day running and growth of your business.
Do they make mistakes?
Financial mistakes can not only land you in hot water with HMRC, but they can cost your business a lot of money in fees and penalties. Does your current accountant remind you of important deadline dates or provide you with regular updates of changes in legislation and general advice?
It is also very important that your accountant is regulated so you have somewhere to go should anything go wrong. Professional bodies are regularly reviewed, which means services must be of high quality. Any accountant who is not a member of a professional body should be approached with caution.
Are they an expert in your field?
Does your current accountant have experience in dealing with your sector and size of business? Whilst not essential, it can be helpful if they have previous or existing clients who are in a similar industry. For example, an accountant who only deals with sole traders might struggle to look after a fast-growing tech company.
Our knowledgeable team at Blue Spire have experience in working with clients from a huge variety of different sectors from construction, retail, art, manufacturing, hospitality, and many more.
Making the move…
Our friendly, accessible approach means a move to Blue Spire really is a positive experience. We want to make your life easier and that starts with making sure you feel welcome and reassured from day one.
|If you are thinking of changing accountants then don’t wait any longer! Get in touch with one of our friendly team today who can talk you through the process.|