If you struggle to understand your accountant's technical explanations and they don't make an effort to ensure clarity, it's a warning sign to consider a change. Effective communication is crucial to avoid costly misunderstandings, potentially leading to higher fees or even HMRC issues. Clarity on details like the tax treatment of expenses is essential to prevent frustration and confusion about your financial situation.

Your accountant missing deadlines or showing unreliability, like cancelling meetings last minute or losing your documents, is a serious concern. HMRC doesn't consider such lapses as reasonable excuses, and these signs indicate it's time to find a more dependable accountant.

If your accountant is hard to reach, delays meetings, or doesn't respond promptly, you might not be a priority. Large corporate firms may prioritise larger clients, and top-tier status doesn't guarantee quality service. When selecting a new firm, consider your budget and expected service level.

As an independent accountancy firm, we've witnessed this scenario and view it positively. If your growing business now requires in-house finance or independent auditors, it's time to reassess. While your current accountant may have been instrumental, if they can't keep up with your evolving needs, consider a change to propel your growth.

If your business requires audited accounts, the audit aims to provide an independent review of your financial reporting processes. While using the same auditors may offer familiarity, it can compromise impartiality. Best practice involves regularly rotating auditing firms to maintain objectivity.

If your business is stagnant and your accountant isn't providing strategic advice, it's time for a change. Accountants offer valuable insights beyond tax, working across industries. A good accountant analyses, highlights opportunities, and forecasts scenarios, empowering key decisions for growth. If you're stuck with spreadsheets and lack proactive advice, consider switching for a more goal-oriented accountant.

For specific and niche needs, consider a specialised accountant. Ideally, one with a complete understanding of your tax affairs can offer cohesive strategies to minimise your tax burden.

Working with a proficient accountant is akin to having a valuable business partner or an A good accountant should seamlessly support your business, anticipating needs and offering timely reminders. If you're managing reminders and follow-ups, it's a red flag indicating it's time for a change.

A good accountant doesn't just focus on the current tax year; they anticipate future opportunities for effective tax planning. From pre-empting VAT registration to personalised strategies like business exit planning or capital gains optimisation, a forward-thinking accountant considers long-term tax implications, maximising your savings.

Choosing an accountant based on price doesn't guarantee the best service. Consider what you value in service, like urgent tasks or software training, as part of the overall value. If unhappy, don't hesitate to pay higher fees for better value when changing accountants.