Deciding on an Accountant – A Crucial Decision.
Check Their Qualifications
Check if the accountant is a member of a professional body, for example the Institute of Chartered Accountants (ICAEW), Association of Chartered Certified Accountants (ACCA), Chartered Institute of Taxation (CIOT). See if they are a regulated tax specialist and check the ICAEW register of regulated chartered accountants to confirm a firm is properly qualified before committing to their services.
Match Their Experience to Your Situation
An accountant that deals with large commercial property portfolios is unlikely to be of assistance to a sole trader or family run business that has a hospitality based business. They need to be able to confirm that they have clients within your industry or sector, and describe in detail the nature of work that they typically undertake for such clients.
Understand What the Fee Covers
The extent of services covered by a fixed-fee varies between accounting firms. Even where a fixed-fee is charged on a monthly basis, the services covered can vary. It is therefore essential that your accountant outlines what services are and are not included, and at what point they will start to charge by the hour for work undertaken.
Ask About Local Knowledge
A good Tewkesbury accountants will have a good knowledge of local conditions, for example the implications of local flood risk on insurance costs, and how to incorporate Business Continuity Planning into your cash flow/annual costs.
If you are looking for Tewkesbury Accountants, see https://www.randall-payne.co.uk/services/accountancy/tewkesbury-accountants.
Gauge How They Communicate
The first meeting with an accountant is telling. Do they explain things in simple terms, or are they full of jargon? You want someone who is easy to contact and answers your questions in straight terms.
The choice of an accountant will bring returns many times over if he or she is chosen on the basis of qualifications, experience and way of communication with clients.