Do you need to pay accountancy fees? Unless you are a well-organised person or run a well-organised business, and are particularly well versed in the latest accountancy regulations, then the answer is probably yes. At the very least, annual accounts will need to be prepared for a sole trader up to large limited company so the overall fitness of their business can be established.
When deciding which accountancy firm to use the best place to start is to consider what you want them to do for you. For instance, can you prepare your own books up to a good standard or do you have complicated tax affairs, do you need face-to-face meetings with your accountant or could you do without this part of the service? Remember, if you wish to have face-to-face meetings not only are you taking time out of your business but you are also being charged for the meeting and, if your chosen accountant is situated in a city centre, then some of the acountancy fees you pay will go towards the cost of renting expensive city centre offices.
If your accountant provides an online service then you can email any questions you have at a time convenient to you and this allows you to have a written record instead of having to remember what was said during a meeting or telephone conversation. Your accountant will also have time to do any research or checks before giving you a written response. Most questions are not urgent so email provides a perfect solution for both client and accountant.
Accountants whose premises are located out-of-town and provide an online service to their clients are more likely to be able to offer lower accountancy fees. Most accountants are willing to consider a fixed fee arrangement and if you are willing to conduct business by email or fax then this will help keep costs down.
