Small accountancy firms in London exist to provide various accounting services needed by small businesses. Finding the right one for your company is crucial because you will be passing them important tasks and confidential informations. You need to make sure that the firm you are selecting is trustworthy, experienced, and has a good reputation in the industry. Here are some tips to guide you in evaluating the reliability of a small accountancy firm in London that you are thinking of working with:
- Find out more about their qualifications.
Anyone can legally claim to be an ‘accountant’ in the country even without qualifications, training, and experience. But if you are going to pay someone to take care of your accounting tasks, you might as well pay someone who has an advanced educational degree in accounting and many years of professional experience. The best small accountancy firms in Londonare also members of professional bodies like the Institute of Chartered Accountants in England and Wales (ICAEW).
- Look at the services they offer.
Every business has unique structure, issues, and goals. So before selecting a small accountancy firm in London, start by looking at your accounting needs. Find companies that provide specific services that will solve your accounting challenges that you are facing. For example, if you want to save on tax payments, then you must find a firm that specialises in tax work. If you are planning on expanding or investing, then choose a firm that offers financial advising.
- Find out what sectors they specialise in.
A firm that understands your industry is more likely to anticipate your needs and create a sound accounting business plan. Their accountants will know how to handle business of your size and with your revenue.
- Check if they have professional indemnity insurance.
Poor accounting advice can lead you to suffer huge losses. To protect your business against this scenario, make sure to hire an accounting firm with professional indemnity insurance coverage.