The world-wide-web is rife with comparison websites analysing the best deal for the shopper. Sites like ‘Go Compare’ and ‘Compare the Market’ highlight service sectors such as insurance, banking rates, travel and energy – all focused on the cheapest service or the best rate. Martin the money saving expert urges people to use these websites to get the best deal and switch to save money where a better rate is available. And with the recent hike in energy prices your potential savings could be significant.
But why doesn’t this practice exist for accountants?
Possibly because the accountancy market is so saturated? The UK has roughly 50,000 family doctors, but nearly 280,000 professionally qualified accountants, one of the highest amounts (per capita) in the world and more than the rest of the EU put together. So why isn’t more done to help businesses compare their accountant to ensure they are getting the best service and price?
Maybe, because every accountant is different! A recent info-graphic showed that an important factor for the modern day accountant is to possess people skills. Having automated processes allows an accountant more time to interpret data, give good financial advice and suggest business decisions as well as being more involved in the clients business. In summary, today’s accountant is more of a business consultant than someone who sits around crunching numbers.
We speak to a lot of businesses that want more from their ‘mathematical tool’ but don’t know where to find a new accountant or how to go about switching. Transferring your accounts from one accountant to another doesn’t have to be left until a new tax year. At AIMS we know how businesses operate and have taken away all the administration from the client so that switching is simple.
Our main tip is; if you are looking for a new accountant; always ensure they are professionally qualified and always agree a fee in advance so that there are no hidden costs. Although price shouldn’t always be the deciding factor, you should always try and keep outgoings to a minimum and organise a manageable payment system.
The result of this mini-investigation is that you don’t have to look hard to find an accountant, but you may have to look a little harder to find a good one that understands your business. Hiring a professional that specialises in business accounts and tax planning is a good start. Switching can be painless and stress free if you use a business like AIMS that has all the tools in place to make it happen quickly and easily.
Contact your local business accountant for a free consultation; you’ll wonder why you didn’t switch earlier.