Choosing the right accountant isn't just about ticking a box for compliance—it's about finding a strategic partner who can help you keep more of what you earn, reduce your tax liabilities, and grow your wealth. The right accountant should be an asset, not an expense. Here are nine key factors to consider when making your choice:
1. Are They Tech-Savvy?
In today's digital world, your accountant should be up to speed with the latest technology. Do they file tax returns online? Do they use cloud-based accounting software? Incredibly, some accountants still handwrite tax returns! We recently welcomed a client whose previous accountant refused to use email—it was frustrating, outdated, and completely unnecessary. Your accountant should embrace technology to streamline processes and save you time.
2. Do They Offer Fixed Fees?
No one likes surprise bills. Choose an accountant who offers transparent, fixed pricing so you know exactly what you're paying for. The last thing you need is an unexpected invoice just because you called for quick tax advice. Predictability in fees ensures you get expert guidance without worrying about escalating costs.
3. Do They Specialise in What You Need?
Like solicitors, accountants have specialisms. Some focus on auditing, forensic accounting, or corporate finance, while others excel in taxation and business advisory. If you're a fast-growing entrepreneur or a property investor looking to reduce your tax burden, you need an accountant who specializes in high-end tax strategies, property taxation, and wealth structuring—not just someone who files tax returns.
4. Do They Invest in Property Themselves?
If you're a property investor, wouldn't it make sense to work with an accountant who understands the industry from personal experience? An accountant who invests in property will follow the same tax-saving strategies they recommend to you, meaning you get tried-and-tested advice rather than textbook theory.
5. Are They Proactively Up to Date?
Tax laws change constantly, and a good accountant doesn't just "keep up"—they stay ahead. Do they attend tax seminars? Are they part of specialist tax networks? Do they collaborate with independent financial advisors to uncover new tax-saving opportunities? A great accountant is constantly learning, ensuring they provide cutting-edge tax advice that protects and enhances your wealth.
6. Do They Have a Physical Office?
Does your accountant have an office, or do they work from home? While location isn't everything, it's worth considering. Flashy offices in Central London might look prestigious, but their high overheads could mean inflated fees. On the other hand, a remote accountant without a proper business setup might lack the infrastructure to provide high-quality service. Look for a balance—an accountant with a professional setup and the right resources to support your needs.
7. What's Included in Their Service?
Are you getting real value for your money? A cheap accountant often means basic compliance services—you get what you pay for. However, if you want proactive tax advice and wealth-building strategies, don't base your decision solely on cost. The right accountant should save you more money than they charge in fees—otherwise, they aren't worth it.
8. Are You Paying for the Same Work Twice?
If your accountant charges by the hour, be wary of duplicated work. Ensure you aren't being billed twice for the same task or, worse, paying for their errors. Always agree on a fee ceiling before any work begins to avoid disputes later. Ask for a breakdown of time spent if costs exceed the estimate—it's your right to know where your money is going.
9. Do They Have a Strong Team?
An accountant is only as good as their support network. Do they have a skilled team to handle your needs efficiently? What are their qualifications? Do they collaborate with tax specialists, financial advisors, and legal experts to provide a comprehensive financial strategy? A well-connected accountant gives you access to a powerful network, ensuring you get the best advice from every angle.
Final Thoughts: The Right Accountant is a Business Asset
Your accountant is one of the most important members of your financial team. A good one will help you grow, protect, and maximize your wealth, while a bad one can cost you thousands in unnecessary taxes, penalties, and missed opportunities.
Take your time, ask the right questions, and choose an accountant who is experienced, specialized, and proactive—because when it comes to tax and business advice, the right choice can make all the difference.