When and why to employ a Tax Advisor in Birmingham?

Looking to set up a small business in Birmingham? It is always worth contacting an tax advisor who can help you to set up your business properly. A professional accountant will help you setting up your business accounting and management system that will help you to save your time and money.

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Tax Care is your local accountant based in Birmingham offers all-inclusive accounting service that will include the following benefits: 

Find the right accountant for your business is the key task for your business. Before finding an accountant there are some major aspects you need to consider:

Write down what your business needs from an accountant

It is always worth making a list of what you are looking for from your accountant. 

First question to ask yourself whether if you have a business plan for your business. If you have one what is your business aim and objectives are. If you share this with your accountant it would be easy for him to understand your business requirements. Tell him where do you want to see your business in the next few years time. If you do not share your business plan with your accountant you will not get an expected result from your accountant. So if you have not set up your business mission, objectives and business plan yet, set then up now as they are crucial for effective results. 

Do I have the right budget?

Once you set up your business objectives and business plan it is time for you to take action by organising your plan. It is time to ask yourself what type of service do I need from an accountant? Do I have any budget for an accountant? 

There are over a thousand of accountants based in Birmingham and Birmingham City Centre. Some of them are more than an accountant. Some of them just offer a limited accounting service. Now the question is what would want from your accountant? Do you just want your accountant to submit your tax return or you want your accountant to offer business growth advisory? If you are looking for a business advisory service then there are very few accountants offers business advisory services. At Tax Care we offer unlimited business advisory service to our clients.

Identify your business structure and business requirements:

It is important to learn about your business first specially your business structure. There are two major forms of business structure for small businesses; sole trader and limited company. If you form your business as a sole trader your business would require less activities from your accountant. Thats why your accountant should charge you less. If you form a limited company business requirements would need more time from the accountant hence it will cost you more. At Tax Care we provide free advice on business formation. Contact Tax Care on 0121 227 8564 to discuss about your business formation. 

Do you need to outsource your payroll?

If you employ staff for your business you are required to process your payroll and provide payslips to your employee. You also must notify HMRC everytime you pay your employees. You must comply with the pension regulator’s requirements. Processing payroll is not an easy job hence most of the small businesses outsource their payroll function to their accountant or to a payroll outsourcing company or to a payroll bureau company. If you outsource your payroll to an accountant then you have to find out whether if the accounting firm have professionals to work on payroll. Most of the accounting firms in Birmingham outsource their payroll functions to a payroll bureau company/payroll outsourcing company. If your accountant outsource their payroll then they might charge you extra cover up the outsourcing cost. Make sure you clarify with your accountant. At Tax Care we offer all-inclusive service that include payroll processing. We charge £3 per payslip that includes processing payroll, pension assessment and auto enrolment. We work as a virtual in-house payroll providing full support to meet all payroll requirements. 

Speak to your family members and friends for reference: 

It always confusing when you have a lot of options of choosing an accountant from Birmingham. It is always worth speaking to your friends and family members for their recommendations. Nobody would recommend you an accountant if they are not happy with the services. However, make sure you consider your business requirements as it may vary from their business industry. 

Get free accounting consultation: 

There are a lot of accounting firms based in Birmingham offer a free consultation it is always worth arranging a meeting with them. During the meeting, it is always worth asking plenty of important questions. Make sure you focus on all the options including whether if you can work with this accountant for a long term. Compare with the services they offer with prices. Also consider the option of meeting them sometimes.

There are some factors other factors you should consider before hiring an accountant in Birmingham.

 Can you work with your accountant for a long term? 

When it comes to choosing an accountant in Birmingham it is always worth thinking of the long term option. You also need to consider the sustainability of doing business with the accountancy business.

 Does your accountant have your industry experience? 

It is important to ask your accountant about hi previous industry experience. You can also ask him provide you few names of his few clients. If it is necessary you can run a reference check.

How do they offer customer service? 

Make sure you ask your accountant how do they deal with their clients. Who is going to handle your inquiries? Is it going to be an accountant or a receptionist? How often can you talk to your accountant? Some of the accountants seems very nice and friendly at the beginning but later on they are very hard to get hold of. They will never respond to your query after contacting several times. They always hire a professional receptionist to deal with your queries. Or sometimes they just hire a trainee accountant to deal with enquiries. So make sure you clarify with your accountant on point of contact. 

What’s your fees and payment policy?   

Make sure you fixed the price in advance. You also need to confirm with other relevant expense or any other hidden fees involved with this service. Some of the accountants in Birmingham charge less at the beginning but tend to charge a lot if additional fee which are not discussed at the beginning of the meeting.

Ask your accountant about the about the fee payment terms. How do they normally charge their customers? 

Check their reviews: 

Nowadays, it is easy to find out key information about a business by searching online. Most of the times satisfied or unsatisfied clients leave reviews online. You can simply find out about the business by searching and checking those reviews.

Do they understand your business or are they just interested in taking you on board? 

Some of the accountants in Birmingham just take new clients on board without considering your business needs. Pay attention the way they are asking you question. Are they interested in getting to know your business or they are jusy interested in taking you on board. A professional accountant always ask you question about your business. They will try to get to know the insight of your business better.

Are they qualified Chartered accountant? 

There are a lot of accountants based in Birmingham who are not qualified. Please stay away from them. You can either find a chartered accountant or a certified accountant. The difference between a chartered accountant and certified accountant is the qualification. A chartered accountant hold a chartered qualification such as ACCA,CIMA, ACA, CIPFA etc. 

A certified accountant hold AAT, AFA, IFA etc certificates. However, it is not the qualification they hold it more about the skills and the experience they have gained. There are a lot of chartered accountants in Birmingham, are  struggling with their profession. It does not make any difference whether if you are chartered or certified accountant. It is more important to evaluate whether this accountant is a good fit for your business or not.

Are there any hidden costs?

Make sure you ask your accountant clarify about the additional fees or any hidden cost you need to consider. Some of the accountants in Birmingham might give you a competitive price without explaining the hidden cost or additional cost you need to consider. 

Do they have technical skills? 

A lot of chartered accountants in Birmingham are struggling with cloud based accounting. Also some of them have no clue on how to deal with Making Tax Digital requirements. Most of the businesses are opting onto to cloud based system. Cloud based accounting is easier than typical accounting system. You can easily integrate with other cloud based software. One of the key advantages of cloud based accounting is the flexibility. You can work from anywhere in the world at anytime of your convenience. You can take competitive advantage over your competitors by using a standard cloud based system for your business.  If your accountant does not offer you online based accounting system then you will miss the revolutionary accounting automation such s auto invoicing, auto entry, receipt bank. 

 Cloud Based Accountant: 

Cloud based accounting is transforming the traditional accounting and bringing the automation in accounting. Easy, affordable and accessible cloud-based accounting packages is helping businesses to connect with the modern technological business tools that helps businesses to save time and money.  Sage One, Quickbooks and Xero are the leading cloud based accounting software in the UK. Tax Care Birmingham is a Xero Certified Accountant and Quickbooks certified pro advisor.  Tax Care also work with Sage and offer Sage advisory services to small businesses. 

Cloud based payroll is transforming the way of dealing with the payroll. If you own a small business you can process payroll for your employees from anywhere with any device.  Ask your accountant about cloud based payroll. Does your accountant have sufficient skill on cloud based payroll?

How to switch to a new accountant? 

It is very easy and simple. First of all stop paying your current accountant. If you have any direct debit then simply call your bank and stop it from today. Contact your new accountant and authorise him to collect all the documents from the new accountant. It is simple and headache free method. Alternatively, you can contact your current accountant and get all the files and paperwork from him.

How to find an online accountant in? 

Online cloud based accountancy growing very fast and the future of accountancy belongs to the cloud based accountancy. It is not difficult to find a cloud based accountant online. There are a lot of accounting firms offer cloud based accounting solutions for your business. One of the major benefits  of cloud based accounting is the automation. You can save huge amount of time and money by automating most of the repetitive work. So make sure they have business automation and business advisory experience.

today. Contact your new accountant and authorise him to collect all the documents from the new accountant. It is simple and headache free method. Alternatively, you can contact your current accountant and get all the files and paperwork from him.

Ask him about cloud based payroll. Does your accountant have sufficient skill on cloud based payroll?

How can I find a business advisor ? 

An accountant is your trusted business advisor. Finding a reliable business advisor is a challenging job. There are a lot of accountants in Birmingham are offering business advisory services. Make sure you discuss about the specialised business advisory services you might require in future. 

Small business advisory is crucial for business growth. Your accountant should be act as a more than an accountant and offer you the business advisory and app advisory services. In 21st century the accountants and business advisors need to act proactive and offer businesses strategic, financial, marketing services.

Small business expert 

Some accountants do not like to take on small businesses. Therefore, you make sure your accountant has relevant experience in small business accounting. Small businesses have different accounting needs from large businesses. It’s important your accountant has worked with businesses of a similar size to yours. It is also helpful if they have experience in your particular industry. 

Confirm your fee structure in the engagement letter. 

Request your accountant to include the fee structure in the engagement letter. It will reduce the hidden cost and you will be paying a fixed fee.

Business has never been so easy as it is today

Finding a reliable accountant is a crucial part of your business strategic partnership. An accountant can make a huge difference in your business. A right accountant will help you to stay focused. A good accountant will help your business to run smoothly and successfully. This is why they say, “behind every successful business there is an accountant”.

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