Often people ask us why some accountants are cheaper than others — or more pertinently should they go with the cheapest quote.
With our approach after placing an ad for an accountant you will be able compare costs of the quotes. But you will also be able to compare ebay style feedback scores from previous clients. You can see whether a cheap accountant comes with a cheap service — or whether you are likely to get real value for money.
Our straight forward form to get accountancy quotes is so simple and painless we reckon it takes no more than 2-3 minutes to fill out. It costs you nothing. And we normally are able to provide 4 quotes within 12 hours.
Beyond the data we provide once the quotes in we are often asked the question of the pro's and con's of a cheap accountant. Our answer is always the same. It depends what you are looking for. Some clients are relatively well versed in what can be claimed for in terms of tax breaks etc. These people may already be preparing their own books and be reconciling the books to their bank statements. They can cut out some of the work the accountants do — thus lowering the costs.
For such clients so long as their affairs are not too complex (in which case they may be missing a few tricks of the trade) an efficient, and cheap accountant may well appropriate to cross the t's and dot the i's. Perhaps these clients can use "remote" accountants who can only be accessed online and phone only, who are sometimes cheaper (if their data is in good order).
Clearly not all clients fall into this category. Where your affairs are more complex (e.g. a medium sized family business) the issues are likely to be complex enough to warrant a very good accountant whose services may not come cheap. The tax possibilities will be numerous and it would be a false economy to go with an "execution only" type of offering.
At the other end of the spectrum for a recently formed new business it makes sense to get good advice early on. To a certain extent questions such as whether to choose sole trader status, a partnership, LLP, or ltd company (advice which changes depending on your status and expected profits) will have knock on effects across the future years so it is important to get it right. A cheap accountant may not always have the time or inclination to go through this with you in detail. Or to set you up with the right systems in the first place.
To understand the service you are likely to get you should make a shortlist of your issues and ask your bidding accountants their views. Most will offer a first consultation free so don't worry.
Ultimately what you should pay is your choice. We will provide you with as much information so you get it right first time and to see how good the cheap accountant's services are. Just place your free ad today to compare quotes and see the reviews.