Business with your accountants is important.
Firstly, new accountants would write to your existing or former accountants to enquire before they accept your appointment as a new client.
For this purpose, you would be asked to provide contact details of your previous accountants.
Accountants’ fees
Ask your new Accountants to provide you with a quote for the services you required for your business. For example, you want help with VAT accounting. Additionally, you would like to have access to international tax accountants because you have an overseas income.
Generally, accountants charge their fee by the hour worked on your company’s affairs but they are accountants who offer fixed fee accounts packages for limited companies too.
If they charge by the hour, ask the estimated time to complete your assignment based on their experience. So that you know roughly how much it would cost you.
Questions for Accountants
Some people like to send a long list of questions to their accountants asking the possibility of doing this and that business and what is the tax implication of each business model.
Your accountants would usually charge for this kind of assignment.
It is good to seek accountants advice on your business model. Be specific about your questions on your business model if possible. This would help your accountants to gather information quickly for your business model. You save money too.
Dedicated accountant service
Dedicated accountant service comes with a reasonable quality price tag if you would like to have direct access to a specialist tax accountant for example.
Ask your new accountants, whether there will be a dedicated accountant as your main contact point if you have any questions about your company affairs.
If various accountants within the firm would be involved in your assignments, ask what is the best way for you to communicate if you have questions about your company transactions.
Equally important, you must ask if the accountancy fee includes confirmation statement, company accounts and corporation tax filings.
Communication is the key.
