Updated: May 29, 2020
When it comes to hiring an accountant, it can be very easy for a firm to simply pick one of the first names they come across.
Whether it is an accountant that happens to be local, is personally known to you, or is simply persuasive with their sales pitch, it can be all too easy to choose someone quickly without doing any research on them. After all, you may be very busy with your business and will appreciate the time saved at this point.
However, that approach can bring you a lot of trouble. If you hire an accountant who isn’t very good, who makes mistakes or keeps you waiting when you need urgent help, you could have big problems.
Problems you could face
There are three main problems you could face:
Your accountant makes an error when calculating your tax returns
Your accountant makes a poor recommendation
Your accountant is slow to help when you need them to act fast
In the first case, the consequence of a tax error could be that you end up being fined by HMRC. The idea of having a good accountant is that they should keep your tax bill down while also getting the calculations right.
After all, you could save the money on an accountant and try to work it all out yourself, but your main reason not to - apart from time - is precisely because you want to avoid getting it wrong and being penalised.
A poor recommendation could include bad advice over the software to use, or over the kind of company structure you should have. For example, if you are advised to be a sole trader with unlimited liability when you could have protected your assets through a limited liability structure, you could lose everything if the business gets into trouble.
Slow responses from an accountant can also be catastrophic. Apart from the time and frustration involved in chasing them, if you face problems such as a need to meet an urgent deadline and a tardy accountant lets you down, this can lead to further costs.
Of course, if your accountant is part of a professional body you will have recourse to complain to them, but while that may gain some redress, the damage may already have been done.
Check us out
We know that the kind of problems listed above can be catastrophic for clients, so it is absolutely right for you to carry out due diligence on your accountancy firm.
We are happy for prospective clients to check us out. We have an outstanding record of providing professional, accurate service with the best advice and accurate returns. We are quick to respond when you need us. We collect compliments, not complaints.
Many times we have taken on new clients who have been let down by their accountants in the past. It has been our privilege to help get them back on track.
If you need an accountant that prides itself on the very best service, come to us. Whatever your past experience of accountants, we won’t let you down.