Many self-employed individuals decide to change accountants in April when the tax year ends and the new one begins or if operating via a limited company when the company financial period ends. Others also opt to change accountants in the New Year. There are several benefits to doing this but, while contractors, freelancers and small business owners make difficult business decisions every day with ease, many tend to hesitate when it comes to switching accountants.
Others may not even be aware of the financial benefits of leaving their current accountancy firm. Changing to a different accountant may sound scary, but it’s actually a simple and pain-free process, so you should consider it if you believe it’s the best thing for your business.
There are many reasons to switch today, so take a look and see if you identify yourself within any of them.
You’re Paying Too Much
One of the main reasons why people opt to change accountants is price. Keeping costs low is critical when running a business so, when a new tax year rolls around, many self-employed individuals assess their accounts and realise their accountants’ fees are astronomical.
A good way to determine if you’re paying too much for your accounting service is by comparing accountants and checking if they offer competitive rates. Unlike Gorilla Accounting, many firms are not start-up-friendly regarding cost, so you should shop around until you find the right one for you.
Whether you’re just starting out, already run an established company, or you’re looking for limited company accountants or sole trader accountants, the important thing is you select a service that doesn’t exceed your budget.
Make sure to compare any potential new accountants with your current accountant to ensure you’re receiving the same services. You want to get value for your money, so the last thing you need is to pay an exorbitant fee while having to do a lot of the legwork yourself.
You’re Not Satisfied with the Relationship
Unfortunately, many contractors, freelancers and small business owners will need the answer to an urgent query or get in touch with their accountant quickly for several other reasons – only for the phone to keep ringing. When you’re paying for a service, but your accountant is never there when you need them, you’ll quickly become dissatisfied with the business relationship.
At Gorilla Accounting, we ensure that all our clients have a dedicated accountant who can answer all their questions or solve issues. We’re here to make your life easier, so you can rest assured we’re not only efficient and knowledgeable, but we’re also great communicators.
What’s more, you can get in touch with us over the phone or video call, whatever is more convenient for you. And, if you contact us before 3pm, we guarantee a same-day reply. As a business owner, you already have plenty on your plate, so you won’t want to have to worry about your finances as you go about your day.
You Want to Stay Modern
As a technology-driven firm, we understand the importance of keeping up with the times. The days of your accountant recording your financial information on an Excel sheet are long gone; if this is still the case for you, it’s another reason to change accountants.
Gorilla Accounting always moves with the times. We include FreeAgent bookkeeping software in our accountancy package, which allows you to keep track of all your finances no matter where you are. You can access real-time information from your laptop, mobile or tablet – all you need is an internet connection. You can stay on top of your expenses, invoices, receipts, tax submissions, and so much more. FreeAgent gives you key knowledge about your accounts, such as tax deadlines or overdue fees, so you can quickly act and keep your business running smoothly.
We’re streamlining your accounting and giving you the best value for money by using the latest cloud-based software.
You Want an Expert in Your Field
Being your own boss means you can have the career of your dreams. Contractors, freelancers and small business owners work hard to become experts at what they do, so it’s only natural they’d want the same of their accountant.
Not all accountants specialise in self-employed accounting; of those who do, many have no idea about the requirements of particular industries or sectors. We have specialist knowledge of IR35 tax legislation, for example, and we work with many self-employed individuals in various specialist sectors. We possess the knowledge and expertise necessary to advise contractors, freelancers and small businesses in IT, media, art, engineering, medicine, and so much more.
Each sector has its own unique demands and specifications, not to mention government regulations, so it’s easy to miss something important. For instance, because we are accountants for landlords, we know all about Section 24 and can advise our clients on what to do to negate or reduce its impact.
It’s crucial that you find an accountant who understands what you do and can give you correct advice – if you think your current accountant is not up to par, consider a change.
You’ve Outgrown Your Accountant
It’s great when your company starts growing, but this can also mean your current accountants may not be the best fit for your business anymore. For example, they may not be ready to deal with a massive company since the finances become more complex and time-consuming. For this reason, it’s good to re-evaluate your current accountant and whether they’re in over their heads.
Growth can be sudden or slow, but not having the right people on your accounts can hinder your progress. It’s easy to compare contractor accountants, so don’t postpone such an important decision just because you’re busier than ever due to a growth spurt.
It can also happen that your accountant has gotten too big for your business as well. Many contractors and freelancers don’t like feeling like just a number, so they choose smaller firms. It all depends on your preference. At Gorilla Accounting, we provide accounting services to sole traders, individuals operating as limited companies, start-ups and small businesses, so we can be your accountant throughout your career and business development.
You’ve Changed Your Business Structure
Changing your operating structure is normal since it can present several advantages; for instance, if your annual turnover is more than £50,000, it may be more tax-efficient to incorporate instead of remaining as a sole trader. However, some accountants specialise only in specific business structures and may not be knowledgeable enough to handle your accounts if you change them. At Gorilla Accounting, however, we can provide accounting for limited companies and sole traders.
It’s essential to make the right changes to your business to grow it and improve your cash flow and, if this means changing accountants, then look at it as just another business decision you have to make.
You Don’t Believe They’re Saving You Money
A good, proactive accountant will always look for ways to save you money, especially when it comes to your tax return. Sure, if you are only looking for someone to fill your returns and send them on their way every year, there’s nothing wrong with that – but having an accountant who will ensure your company is paying less tax is even better.
The same goes for claiming expenses. Are you aware of all expenses you’re allowed to claim with your business? The average business owner will probably not be aware of the many ways they can save money. After all, with so many HMRC rules, government regulations and schemes, it can be easy to miss out on several opportunities.
You’re Getting Unexpected Fees
Unsurprisingly, one of the common complaints of contractors and freelancers who want to switch accountants is that they’re being charged for additional things. As a business owner, you want to know exactly what your accountant is charging you for and which services are included in the price.
Transparency is important so, if you’re getting unexpected fees you don’t understand, it may be time to look elsewhere. With Gorilla Accounting, you always know how much you’re paying and what you’re getting with each package, and you can be confident that we’ll never charge you extra.
For instance, our limited company all-inclusive package is only £95 + VAT per month and includes, among others, the following services:
- 24/7 access to FreeAgent
- Quarterly review of your bookkeeping data
- Tax planning advice to help maximise your tax efficiency
- Preparation and submission of corporation tax return
- Preparation and submission of VAT returns
- Assistance with HMRC record checks
- Reminder services for deadlines
- Preparation of Companies House Confirmation Statements
In addition to this, you also don’t want to get an unexpected bill from HMRC. Your accountant should be filing your documentation on time and be aware of your numbers – giving you plenty of time to plan for paying your taxes.
Gorilla Accounting also provides accounting packages for sole traders/freelancers starting from £50 per month plus VAT, buy to let landlords from £45 per month plus VAT, as well as many other sectors. We even offer a small business accounting package and a research and development tax relief accounting package.
Your Accounts Have Mistakes
Human error is normal but when financial mistakes cost a lot of money in fees and penalties, it’s probably time to consider whether you’ve hired the right accountant if you’ve found yourself in hot water with HMRC.
For example, if your accountant doesn’t know their way around IR35 and what you need to do to stay compliant, you can be looking at a huge tax bill of thousands of pounds. It’s worth mentioning that, because Gorilla Accounting specialises in accounting for contractors, we’re always up to date with the latest legislation.
If you can’t trust your accountant, you won’t have peace of mind. And it can be challenging to run a business if you’re constantly worried about your finances. You hired your accountant so they can take the hassle off your hands and let you focus on what you do best.
Why Should You Switch to Gorilla Accounting?
As contractor accountants, we have many years of experience and knowledge in the contracting and freelancing worlds. We have worked with countless self-employed individuals and have helped them set up and grow their businesses, and we can do the same for you.
What do you get with us that you don’t get with our competitors? Below, you can see some of the features we offer, as well as our Trustpilot ratings and our prices, giving you a good idea of what to expect with Gorilla Accounting.
Throughout this article, we already mentioned several reasons why you should choose Gorilla Accounting as your next accountant, but it all boils down to:
- Jargon-free accountancy
- Having your own dedicated accountant
- Low fees for all packages
- Access to a cloud-based bookkeeping software used by thousands
- Accountants who are experts in your industry
- A great variety of services
It’s very simple to change your accountant to Gorilla Accounting, so you don’t have to stress about it being a lengthy or complicated process:
- Just sign up with Gorilla Accounting
- Then notify your current accountant
- We will contact your accountant to get all the information we need
- Start enjoying our services
If you want to know more about our services and the products we offer through our many partners – as well as how we can help you grow your business and save money – get in touch today. You can call us on 0330 024 0406 if it’s more convenient.