Confused About Selecting Accountancy Firms? A Guide for Small Business Owners

Posted by Amit Gupta on August 31st, 2023

Many small business owners often believe they can handle their own accounting, only to discover that it's more challenging than anticipated. Juggling various responsibilities leaves them with little time for day-to-day bookkeeping and routine accounting tasks. They end up rushing through their financial tasks at the last minute, increasing the likelihood of costly mistakes for their business. They also fail to stay updated with the ever-changing tax legislation.

The good news is that there is a solution to these problems: outsourcing accounting and bookkeeping tasks to small accountancy firms in London. The key lies in selecting the right accountancy and bookkeeping partner that has your best interests in mind. To help you make an informed decision and eliminate any guesswork, here is a guide for choosing an accountancy firm that caters specifically to the needs of small businesses.

Small business accountancy experience

Select a reputable independent firm with chartered accountants specialising in serving small businesses. Look for a firm that can work closely with you to create a tailored strategy for achieving goals, measuring progress, and addressing issues promptly.

What makes them different?

Small accountancy firms in London differ in terms of the support and expertise they offer. The most reliable ones offer comprehensive financial services and are capable of providing valuable business advice. They strike a balance by maintaining a commercial focus while keeping their clients' interests in mind.

In addition to expertise, it is crucial to find an accountancy firm with whom you can communicate comfortably. This open communication allows for honesty and transparency between all parties involved. By finding an accountancy firm that excels in both expertise and communication, you can ensure a productive and beneficial working relationship.

Affiliations

Look for membership in the ICAEW, VAT registration, and registration with Companies House. These affiliations demonstrate trustworthiness and compliance.

Security and privacy

Partner with a small accountancy firm that respects your privacy and ensures your safety. Verify that they are registered with the Information Commissioner’s office to ensure compliance with the Data Protection Act. Furthermore, the firm must have professional indemnity insurance for your protection.

Meet the best small accountancy firm.

Allenby Accountants is one of the leading small accountancy firms in London. They work specifically with small and medium business owners with a proven track record of supporting and adding value to their clients’ organisations. Start with a free initial consultation by calling 0208 914 8887.

About the Company:

Allenby Accountants is an independent accounting firm in Uxbridge, the western part of London. Our team provides financial services and professional advice to assist you in achieving your business goals. We cater to various small and medium-sized businesses across London and assist them in maximising their wealth and minimising their expenses. Our services encompass bookkeeping, accounting, VAT management, tax management, tax planning, succession planning, inheritance tax, capital gains tax, and more. Our specialisations include serving sectors such as professional services, retail industry, medical and healthcare, property and construction industry, charity, and not-for-profit organisations.