The benefits of hiring an accountant are extensive; you can have peace of mind that everything from your tax returns to your general financial welfare is being taken care of. However, this will only be the case if you choose an accountant with care. Below, we will take a look at seven signs that you need help with your accountant.
- They don’t return your phone calls in a timely fashion
There is nothing more frustrating than trying to get into contact with your accountant, only to be met with the engaged tone. Of course, accountants are busy people, but if he or she does not return your phone call in a timely fashion, it is an indicator that you should consider looking somewhere else.
- They miss deadlines
Your accountant should never miss a deadline; whether it is one they have agreed to or, even worse, an HMRC deadline. If this occurs, it is a sign that they are either slacking or they have too much work on and they cannot handle it. Not only do deadlines have a negative impact on your company, but they can result in fines as well.
- They don’t know anything about your industry
When hiring a business accountant, it is important to choose one that has experience in your industry. There are often specific industry tax breaks and tax codes that apply, and if your accountant is not aware of them, you are going to miss out. Before agreeing to work with an accountant, discuss with them their prior work experience and how they have assisted companies similar to yours in the past.
- You don’t receive a regular review of your tax affairs or financial affairs
Your accountant should be in frequent contact with you. You should receive regular updates as well as notifications whenever anything changes. Communication can take a number of different forms, but what matters is that they do actually get in touch.
- They condone bad practices
All businesses should use their legitimate tax allowances, however, you should not take advantage of any schemes that are illegal. Some accountants may offer schemes to evade tax via offshore trusts or companies. If something seems too good to be true, you need to research it carefully to make sure it is legitimate. HMRC are cracking down on this, and the penalties are severe.
- They don’t explain financial statements
One of the biggest frustrations people experience is when their accountant does not explain financial statements or other monetary documents. If you feel like you are in the dark, this is not a good sign. Talk to your accountant, and if the issue persists, it would be wise to consider looking elsewhere.
- You find it difficult to work with your accountant
Last but not least, if you feel that your relationship with your accountant is a strained one, it could be impacting the service you receive. It is important that you and your accountant get along.
If you’re having issues with your current accountant, why not get in touch with the experts here at prosassist.com, where we’ll be happy to talk over your needs.