How do you choose your accountant?

[ladymuck]

I picked my first accountant because they were local (literally at the end of my road) and I knew who they were. Useful for the first few years when I was starting out.

I then moved onto one of the big contractor accountancy firms who were ok but not great. I can't remember which one now. About this time I had worked out what amount of work I was happy to do and what I'd prefer my accountant to do and I started looking for one that wasn't going to try and make me pay for things I wasn't interested in.

I can't remember if I saw a recommendation here or on the PCG forums (yes, it was pre-name change!), gave the chap a call and thought he seemed reasonable enough. Price was right and he was flexible about what work I'd put his way, format of the data he'd need, etc etc. He's proved to be helpful and reliable over the years, even though we really only speak once a year or when I need referencing for something.

If I had to change now, I'm not sure how I'd go about it. So many 'contractor' accountants seem to need to do so much for you, maybe to justify their fees, I don't know. I would probably find another small business rather than a large firm.

[Maslins]

So many 'contractor' accountants seem to need to do so much for you, maybe to justify their fees, I don't know.

Just to give our opinion on this, historically we did have a lower cost option, where it was agreed the client would DIY certain things, with us doing a reduced number of what are perhaps the more tricky tasks. This caused us a few problems:
1) If the client mucked one of their bits up, they'd expect us to both spot the error, and to sort it out.
2) If the client forgot to do one of their bits, they'd expect us to highlight it.
3) If the client was unsure how to do one of their bits, and wanted assistance, they'd expect us to help them.
Trying to charge extra for any of the above as it wasn't in the agreed package was typically met with annoyance.

So we either oversee everything, are responsible for everything (of course subject to the client providing us with info etc) and charge a fee accordingly, or we don't get involved at all. The middle ground with mix and match didn't work for us.

[ladymuck]

Just to give our opinion on this, historically we did have a lower cost option, where it was agreed the client would DIY certain things, with us doing a reduced number of what are perhaps the more tricky tasks. This caused us a few problems:
1) If the client mucked one of their bits up, they'd expect us to both spot the error, and to sort it out.
2) If the client forgot to do one of their bits, they'd expect us to highlight it.
3) If the client was unsure how to do one of their bits, and wanted assistance, they'd expect us to help them.
Trying to charge extra for any of the above as it wasn't in the agreed package was typically met with annoyance.

So we either oversee everything, are responsible for everything (of course subject to the client providing us with info etc) and charge a fee accordingly, or we don't get involved at all. The middle ground with mix and match didn't work for us.

That makes sense. I did think about that after I posted but forgot to update.

I do everything to TB and then hand over for CT calculation, and production and submission of accounts to CoHo and HMRC. There is a bit of a sense check by my accountant, he sometimes spots an adjustment here or there that could save me a bit of CT. He doesn't mind me asking the occasional question, and I would expect my annual fee to be adjusted to reflect any significant time spent on queries.

I think I would find it difficult to source a similar package from many accountants.

[Maslins]

That makes sense. I did think about that after I posted but forgot to update.

I do everything to TB and then hand over for CT calculation, and production and submission of accounts to CoHo and HMRC. There is a bit of a sense check by my accountant, he sometimes spots an adjustment here or there that could save me a bit of CT. He doesn't mind me asking the occasional question, and I would expect my annual fee to be adjusted to reflect any significant time spent on queries.

I think I would find it difficult to source a similar package from many accountants.

What you've currently got sounds like the more traditional approach of accountancy firms. They look at things after the event/only when asked, and charge a variable fee based on time spent. Lots of accountancy firms still happily work that way, though many who are tailored to the freelancer/contractor accounting market have drifted away from it for a variety of reasons.

[Jess inniAccounts]

I do everything to TB and then hand over for CT calculation, and production and submission of accounts to CoHo and HMRC. There is a bit of a sense check by my accountant, he sometimes spots an adjustment here or there that could save me a bit of CT. He doesn't mind me asking the occasional question, and I would expect my annual fee to be adjusted to reflect any significant time spent on queries.

I think I would find it difficult to source a similar package from many accountants.

Do you know what your accountants approach to MTD will be? With HMRC expecting regular filings in future rather than the standard once a year job..

[ladymuck]

Do you know what your accountants approach to MTD will be? With HMRC expecting regular filings in future rather than the standard once a year job..

I submit my own VAT returns, which is all that is currently required under MTD at the moment, using Sage One which is MTD compliant. When it kicks in for PAYE I will remain compliant as I use Sage for that too.

MTD for CT isn't coming until 2021? My accountant also uses Sage so they will have no issues with submission and I see no reason for the service to change albeit I may need to send them more regular data. We will discuss it, if necessary, nearer the time but I'm not going to worry about 2021 until December 2020 at the earliest.

[Jess inniAccounts]

I submit my own VAT returns, which is all that is currently required under MTD at the moment, using Sage One which is MTD compliant. When it kicks in for PAYE I will remain compliant as I use Sage for that too.

MTD for CT isn't coming until 2021? My accountant also uses Sage so they will have no issues with submission and I see no reason for the service to change. We will discuss it, if necessary, nearer the time but I'm not going to worry about 2021 until December 2020 at the earliest.

"My philosophy is that worrying means you suffer twice."