The Honest Truth About What An Accountant Should Actually Do For You

Most business owners have a vague sense that their accountant could be doing more. They just cannot quite put their finger on what that looks like in practice.

This article is an attempt to be honest about that.

"An accountant who only tells you what happened is a historian. What you need is an adviser."

THE BASICS

What every accountant should do as a minimum

Before anything else, the fundamentals need to be right. This is the floor, not the ceiling.

File accurately and on time

Your accounts, tax returns, and any statutory filings should be submitted correctly and well ahead of deadlines. Late or inaccurate filings cost money and attract HMRC attention. If you are regularly receiving last-minute requests for information, that is a warning sign.

Make sure you are not overpaying tax

Every legitimate relief, allowance, and deduction available to your business should be claimed. Employment Allowance, capital allowances, R&D credits where eligible, pension contributions, timing of expenditure. If nobody has ever walked you through this, it is worth asking.

Communicate clearly and promptly

You should not need to chase your accountant. Queries should be answered quickly, in plain English, without making you feel like you are wasting anyone's time.

BEYOND COMPLIANCE

What a good accountant does on top of that

Compliance is table stakes. The real value of a good accountancy relationship comes from what happens beyond the annual accounts.

Helps you understand your numbers

Your accounts should not feel like a document someone else produces and you sign off without really understanding. A good accountant explains what the numbers mean, what they say about the health of the business, and what they suggest you do next.

Tells you what is coming, not just what happened

Tax bills, cash flow gaps, upcoming deadlines, changes in legislation that will affect you. These should not come as surprises. A proactive accountant flags them months in advance, not the week before.

Asks questions about your plans

Thinking of taking on a member of staff? Considering a new piece of equipment? Wondering whether to change your business structure? These decisions have tax and financial implications. Your accountant should be part of that conversation, not an afterthought.

Is accessible when you need them

Business decisions do not wait for scheduled appointments. You should be able to pick up the phone, send an email, and get a sensible answer in a reasonable timeframe. If that feels like an imposition, something is wrong.

THE WARNING SIGNS

When the relationship is not working

These are the signs worth paying attention to.

You only hear from your accountant in January, or when a deadline is looming.

You are not entirely sure what you are paying for, or whether the fee reflects the work being done.

You hesitate to ask questions because you worry about being charged for the call.

Your tax bill arrives as a surprise every year with no prior indication of the figure.

You feel like a small fish in a large pond, passed between different people with nobody who really knows your business.

A FINAL THOUGHT

The relationship you deserve

None of the above is extraordinary. It is simply what a good professional relationship looks like. The fact that it does not feel universal says more about the state of the industry than it does about what is possible.

If reading this has prompted a question or two about your own situation, we are always happy to have an honest conversation. No pressure, no obligation. Just a straightforward chat about whether we might be the right fit.

And if you are happy where you are, that is genuinely good news too.

LEGAL AND REGULATORY NOTICES

General information only. This newsletter has been produced for general information and educational purposes only. Nothing in this newsletter constitutes personal financial, tax, or business advice, or a personal recommendation of any kind. It should not be relied upon when making financial or business decisions without first obtaining advice tailored to your specific circumstances.

Tax reliefs and allowances. References to reliefs and allowances are based on current HMRC rules as understood at the time of publication. Eligibility depends on individual circumstances and is subject to change. Always obtain specific advice before making claims.

Regulated status. Chelmer Company Services is regulated by the Institute of Chartered Accountants in England and Wales (ICAEW). We are not authorised or regulated by the Financial Conduct Authority for investment business.