If you’re easily stumped when it comes to figures and you get in a right tizz when it comes to your yearly tax return, whether you’ve got a business or not, an accountant may be just the thing you need.
There are many things that may make your returns complicated such as pensions, investments (either in the markets or in other ways such as rental properties) and other sources of income such as interest on bank accounts. This gets even more complicated if you have your own business. As a result, it doesn’t matter whether you are self-employed or not, an accountant could save you money.
When it comes to choosing one, however, who you go with will depend on what your needs are. If it’s just personal needs you require then it may be that you just phone around a few companies, go for a meeting and chose the accountant that you get on the best with that is at a price you are willing to pay. If you have a business, however, there are other things to consider.
One such thing is whether the firm has experience in your sector and size of business. It will be of little use to you if you have a small business and either hire an accountant who is a specialist in your sector but only has experience with large companies or hire one who has little experience in your type of business. Both of these scenarios could cause harm to your business as your accountant will not be able to provide advice that is tailored to you and your needs. If you are a small business, you need an accountant who is used to dealing with companies that may only have 1-2 or even 0 employees. Similarly, you also want to make sure that you have an accountant who has experience in your sector so you can be confident that they will be up to date with everything that is relevant to you and the latest legislation so that you don’t get caught out.
It’s crucial that you choose an accountant that you get on with. The last thing you want is to be clashing every time you need advice or go for a meeting with them. While you don’t need them to be your best friend, you do need to get on on a basic level to ensure that the best working relationship is achieved.
If you’re looking for an accountant then why not get in contact with Phipps Henson McAllister and arrange your free, no obligation meeting to discuss your tax needs.