As a business owner, it’s important to manage your cash flow and stay on top of your tax obligations. This can be either overwhelming or time consuming (or both!) so having a reliable accountant on hand to manage your business finances makes sense. But when you engage a fantastic accountant – you will soon discover that they not only keep your finances on track, they offer so much more.
What do accountants do?
Many people engage an accountant to ensure that their business is tax compliant, whilst operating as tax efficiently as possible.
To this end, an accountant offers guidance on how to structure a business and will guide with how to establish good bookkeeping practices. They can manage your interactions with HMRC including completing and submitting tax returns, and can prepare your annual accounts and submit these to Companies House.
What does a fantastic accountant do?
A fantastic accountant is passionate about helping their clients to succeed and will be an integral part of their business. They not only support ‘standard’ accountancy needs, they take a holistic approach to your business, helping you find opportunities for growth, to structure your personal finances, and to weather the storms often found in doing business.
For example, a truly fantastic accountant will support you with preparing regular management accountants providing information that gives you a real time snapshot of your business. This enables you to make management decisions on the very latest information allowing you to flex your resources, for example, or to invest in plant, or to take a conservative approach if the market dips.
They will also help you plan for the future, whether this means pivoting your business to take advantage of new opportunities and growth, taking out finance, or even preparing for a sale. They are available to answer your questions and support your decision making. In short, they do all they can to make your business a success.
How do you find a fantastic accountant?
Anyone can call themselves an accountant, so make sure that the firms you are considering have the correct professional qualifications, training, and experience. You can search the Institute of Chartered Accountants in England & Wales (ICAEW) database to ensure that you choose a registered accountant. You may also consider a certified accountant.
You can also ask other successful business owners. What you are looking for is an accountant that goes above and beyond, and which has a strong reputation for providing outstanding service.
Many businesses are price sensitive, so consider looking outside of the major cities. For example, our USP is that we are a local firm, offering similar services to larger London firms, but with a cost effective personal touch.
Why you should choose the fantastic HB team
The HB reputation is built on strong client relationships and providing outstanding service. Many of our clients have been with us for a number of years – and one client has been with us throughout most of our 100 year history.
The personal touch is so important to us. You get to know the whole team and know exactly who is working on your account. In return, we know you and understand your unique situation. This personal relationship means we are better placed to offer you the bespoke advice that you deserve.
If needed, we can also audit your business. We are ICAEW registered auditors and whilst not every business legally requires an audit, we use the same analytical skills with every client meaning you get even better guidance.
If you are considering moving to a new accountant, why don’t you give the HB team a call? We’re happy to discuss your needs and how we can support you with your business. Not only can we answer your questions, we can offer you support with your payroll, management accounting and so much more. You can contact us on 01992 444466. We’re accountants for business and for people. We’re here to help.
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The information contained above is for general guidance purposes only. Whilst every effort has been made to ensure the contents are accurate, please note that each individual has different circumstances and it is essential that you seek appropriate professional advice before you act on any of the information contained herein. HB Accountants can accept no liability for any errors
