How much should an accountant cost your business?

19th February 2018

How much should an accountant cost? Not an unreasonable question to ask yourself. After all, we should always keep an eye on our business costs, and ensure we’re not paying more than we should have to.

The basic rule of thumb is relatively simple: the accountant should not cost more than the value you get from them.

Which raises the question: what value exactly do you get from an accountant?

If your accountant just performs a box-ticking exercise, then that value is actually quite small. And easily done by hundreds of more-or-less identical accountancy firms across the country.

But what if your accountant helps you achieve your dreams? What value would you put on that?

Bit of a big claim to make, isn’t it?  Achieving your dreams? Not normal accountancy-speak, for sure.  But the fact is that a business, run well and with a clear aim in mind, can help you get to where you want to be in life. (A business run badly can become your worst nightmare, but that’s a story for another day.)

So how does your accountant get you there?  Well let’s start with this:

  • Setting you up and training you on good financial software that will give you really valuable information about your business – that’s always up to date
  • Meeting with you to discuss, not out-of-date last year accounts, but recent activity, so that any problems or opportunities can be jumped on
  • Helping you measure progress against realistic but aggressive targets, to make sure your business is on track and going in the right direction
  • Helping you minimise your taxes – less tax = more for you and your dreams
  • Looking beyond the business to how you’re managing, protecting and growing your own personal wealth

Of course, your accounts and tax returns need to be well-prepared and go in on time, but that’s the basic stuff, really.  The above list is what’s really going to move the needle on your progress in life.

And for that kind of value, which we can offer you, we think our fee packages are actually pretty reasonable. What price could you really put on getting where you want in life?

Give us a call on 01634 540040 or email me at: andy@aktax.co.uk and let’s get together to see where you want to go.

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