3 important questions to ask your accountant

There are many questions that you might like to ask your accountant and you should be encouraged to do so.

There are 3 important questions to ask so as to determine that you have the right accountant to suit your requirements.

They are as follows:

  1. How well do you understand my industry?

As a builder and/or property developer, you operate in a complex world of regulation, taxation and evolving business models. Your accountant needs to be on top of regulatory and other changes to ensure you’re meeting your obligations, taking advantage of all appropriate deductions and protecting your assets as you build your wealth. A specialist can also assess your business in the context of the broader industry to identify any areas that would benefit from extra attention.

  1. Do you charge a fixed fee?

Transparency and regular contact underpin a strong relationship with your accountant but, if you’re charged for every call, you might think twice about picking up the phone. A flat fee can help to keep all lines of communication open and, and as long as the extent of the cover is clearly set out, there’s no risk of unpleasant surprises or time-wasting disagreements.

  1. Are you proactive?

Builders and property developers are notoriously busy people with little time to think about either their business or their financial future. A good accountant will look ahead, think strategically and make suggestions to help you operate in the most tax-effective and efficient way and take advantage of opportunities as they arise.

The right accountant will make a significant difference to your business.

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