Finding the Right Small Business Accountant in the UK: Expertise and Specializations

Finding an excellent accountant can make a small business thrive. For small businesses, having a great accountant to help them navigate the ever-changing rules, tax laws, and common financial pitfalls can make the difference between growth and failure. The small business accountants don’t just help you with your annual tax returns or financial statements. They also provide knowledgeable, professional business advice when you need it and are ready to be an integrated business tax professional who can save you money by maximizing your deductions.

A good small business Accountant will also be able to answer important business questions, such as the pros and cons of VAT (Value Added Tax) registration, how to register for limited liability, and even when you have to hire new employees or buy new space. Such expertise is invaluable to small business owners who don’t have the time to try to manage and grow their businesses.

Ready To Find The Right Accountant?

Here are our insider tips for finding a good small business accountant.

1. Consider Your Business Needs And Their Services

Some small business accountants practice general accounting, while others specialize in their field. For example, at FM, our Certified Accountants can help any industry, but our two specialties are helping clients save money on tax returns and providing full financial functionality. Other business accountants may be on-demand financial advisors, while others may be nuanced for accounting services.

However, this unique expertise makes it all the more important to choose an experienced business accountant that is right for your size and industry. There’s no point in choosing a small business accountant with the expertise to give CFO-level advice to wealth management firms if you’re a small tech company with fewer than five employees. Likewise, it’s not important to choose an accountant who specializes in large businesses if your business is SME, as your business and accounting needs will be very different.


Ask the small business accountants on your shortlist what services they provide to their clients when you first contact them. Talk about how they work with clients and their experience in your field. Is it necessary to meet in person with your Accountant, or are virtual meetings enough? Remember, your ideal bookkeeper will know the size of your business, have experience working with that industry, and know what their potential small business accounting needs will be.

2. Check Their Level

Make sure to hire a qualified professional small business accountant from the Institute of Chartered Accountants in Scotland or England and Wales or the Association of Certified Public Accountants. They may also be members of the Institute of Financial Accountants or Independent Financial Accountants.

When you hire a Certified Public Accountant, you have the assurance that they are qualified accountants who maintain a strong reputation in their profession.

3. Make Sure You Can Communicate With Them (Plain English)

Also important, not to be overlooked, is to make sure that your Accountant speaks in a way that you can understand. Not to be confused with financial terms. Your Accountant will be able to make even the most complicated financial terms simple, and it’s important that they do.

Even if it’s your business accountant, it’s still your business, which means you’re liable to the tax authorities and the rest of the authorities, so it’s important to understand your plan. What your maths is telling you.

4. Make Sure They Understand How The Business Grows

A good small business accountant must have a solid understanding of business development if they don’t have personal experience in growing a business to ensure they are trustworthy and reliable.

Hard-working people who know firsthand what it takes for a business to grow and thrive, and we know the kinds of brave decisions business owners make on a daily basis. Therefore, you can count on us to not only advise and guide you but also show you creative ways to grow and evolve. Make sure your small business accountant can do the same.

If you’re a small business owner wondering when to hire an accountant for your limited liability company, use our helpful blog to see if the timing is right for you. or not.

5. Look For People Beyond The Numbers (I.E., Business Consultants)

Choose a small business accountant who is both proactive and reactive. For example, someone who can also teach you how to save business taxes legally and ethically or someone who will introduce and then teach you great accounting software for your business. Your Business. Both of these types of accounting will be much more beneficial to the long-term survival of the business than an accountant who just calculates the numbers and does nothing else.

6. Consider Their Level Of Support (E.G., What Advice They Offer)

Any potential small business accountant can handle the basics of accounting, such as sales, payroll, book purchases, and cash flow. But a good accountant must also be able to give advice in difficult situations.

As part of our accounting services, they will provide you with expert tax advice, but they will also act as business advisors. They will use our business expertise to help you create a business plan or advise you on matters beyond your business finances. Bookkeepers aren’t just numbers – they should be there for you no matter what your small business is going through.

7. Search Online Accounting Software

It is essential that you use your time wisely as a small business owner. If you find that you spend most of your day jotting down receipts and grappling with spreadsheets, it’s time to organize your finances online. At FM Accounting, we use a secure, cloud-based accounting solution called Xero, but any good accounting software should allow you to access your business finances from anywhere in the world. World. To learn more about how cloud accounting software works, check out our blog. In today’s environment, it’s doubly important to check that your Accountant is familiar with online accounting software, as the software is responsible for BAT compliance. Ensure that the software they use can be used from any device (whether mobile, tablet, or PC) and is capable of allowing you to check your bank balance, make payments and Raise invoices, customize reports, and even record company expenses.

8. Meet And Ask Questions

Be sure to meet with your prospective accountants, as this gives you the opportunity to ask more questions and understand how you will work together. Before your meeting, make a list of questions to ask, such as:

Their Licenses Or Referred Professional Bodies:

Did you find anything out of the ordinary, or couldn’t you get this information sooner? Get detailed information about the future Accountant’s education, degrees, certifications, and memberships in professional organizations.

Their Previous Work Experience:

You may already know that accountants have the right expertise in your field, but how much? Check your Accountant’s history and make sure they know the latest tax rules and regulations.

Cost Of Services Provided By Accountants:

Discussing prices is something you shouldn’t be shy about. Do accountants charge by the hour? OR do they offer additional services at a lower price? Do they charge in a specific way if you want tax advice via email?

Their Accounting Software:

Are they using the right kind of BAT-compliant accounting software? Is there a customer portal available in some form to both parties to allow easy access to your financial records? Good accounting software will have a client portal that can be linked to your financial records, allowing you and your Accountant to keep track of your annual accounts.

Practice Their Communication:

What is the Accountant’s policy on email or phone? How long will you wait for a response? If you need an accounting service that operates 24 hours a day, seven days a week, would you be comfortable waiting a day or two for a response from someone who only works certain hours? Or is it better to find an accountant that offers year-round assistance with other questions and financial planning? Consider the amount and type of communication that will work for you.

9. Make Sure You Feel Comfortable

The ideal Accountant should feel like part of a long-term relationship. They will become your financial advisors to help you make long-term decisions for your business, and you will rely on your Accountant for guidance and compliance with tax regulations.

Each Year At Tax Time.

As your business grows, you will need the help and expertise of others. While outsourcing your accounting can be a good approach to start, hiring an accountant can save you time by eliminating the need to do the accounting work. Tax preparation and research on ever-changing tax rules and regulations.

Finding a trusted accountant to help you manage and grow your business will save you time and mental energy while allowing you to focus on running and growing your business. Remember that the accountants are the ones who become an important part of the long-term success of your business.

Are You Looking For A Qualified And Reliable Accountant?

Look no further than us at FM. We have many years of experience helping small and medium businesses grow. Through a combination of accounting services, bookkeeping services, tax advice, and sound business advice. We know what it’s like to be a small business trying to grow. And we can help you every step of the way. Learn more about us and our accounting services, or contact us for a free, no-obligation call.

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