Choosing the Best Accountant for Your Business
One of the biggest problems local businessmen face is finding the correct advisers for their business, the two most crucial of these advisers are their accountant and bank manager. One of the reasons for this is that businesses shape the world that they live in and are shaped by it. All organisations the matter how small or large has to react to external and internal influences.
Unfortunately, businesses that are proactive and take the lead have a more competitive edge than business owners who merely react to outside influences. To be proactive it is necessary to fully understand the economic, social and legislative structures that directly influence your business. Most businessmen do not have the time, energy or specialist knowledge to keep abreast with all these changes. Terms like globalisation are bandied about often without complete understanding yet every business feels the impact of it in some way or another whether they realise it or not.
Having an accountant that works for you is more than just paying someone to do a job! Maybe in Dickensian times and accountants work was isolationist, sitting at a desk totting up figures, but those days are long gone. Modern vibrant accountants realise that they are team players they cannot operate in a bubble. You need to be certain that your accountant is implementing a completely holistic approach to your business and that they are working in a company dedicated to this.
Accountancy these days is more than just satisfying the taxman. Every single businessman knows someone else who employs a cheaper accountant. That is a fact of life, but it is of no long-term benefit to your business if you save £500 a year on accountancy fees and overpay £3000 in income tax because a transaction that could be offset against future tax obligations has been missed.
We are living in challenging economic times and whilst there are many different opportunities available to businesses you need to recognise those opportunities. To do so you need solid sustainable financial advice which involves far more than just dealing with tax liabilities. Despite similarities in some areas of business each businessman has the unique objective, only the tax authorities think all businesses are the same. Your financial advice needs to be long-term, middle term and short-term. Changing accountants too often will only save you money in the short term. Using a company of accountants who specialise in mortgages, tax, VAT matters, loans and investments is important, because your business should not be static; it is changing all the time. You may not even recognise the precise influences that are already shaping your business but you need to trust that your accountant will.
Businesses need a sustainable long-term financial plan which incorporates different stages in your life. The needs of businessmen with small children are quite different from the requirements of a businessman five years from retirement. You may not want or need to work until you are 65 but you need to plan for early retirement from day one. Business Help UK nurtures their clients businesses, because we understand that your business needs to be developed to its full potential to exploit the opportunities for growth. Without successful preplanning you may find yourself caught up in capital gains tax liabilities that could have been avoided.
Something as simple as being in the wrong VAT scheme can constrain your business and strangle expansion. Our aim at Business Help UK is to do more than satisfy the taxman; whilst that is an imperative objective your business requirements are more complex than that. Our specialist knowledge allows us to spot potential problems before they happen; it is much easier to nip something in the bud than it is to backpedal against a tide. We want to minimise your expenses, so that you can invest your profits in a way that is best for you, your family and your business.
You need above all to be able to implicitly trust the information that you are given and to get to this point it is necessary to have complete faith in your accountant. Hiding something from accountant is not wise, not only will the truth out eventually, but it may do so in a way that destroys your business. Because this relationship has to be nurtured most people feel more comfortable when they have regular face-to-face meetings. Before choosing accountant question their procedures and how they work, because you need to be certain that their vision for your business is your vision. Don't make the mistake of choosing a cheap accountant because short-term gains may turn out to be very expensive in the long-term.
Contact us for a free consultation to see if we can work towards building a better future for you and your business; our reputation stands on what we can achieve for you as a business in terms of growth. We strive to build long term financial relationships that work in the real world!
