Frequently Asked Questions
These are a few of the more common questions we get asked by prospective clients considering using our services…
Why should I have an accountant?
Having an accountant can provide several benefits. Accountants are financial experts who can help you manage your finances, minimise tax liabilities, ensure compliance with tax laws and regulations, and provide valuable financial insights to make informed decisions. They can save you time, reduce financial stress, and help your business thrive.
What makes a good accountant?
A good accountant should possess a strong understanding of financial principles, be detail-oriented, and have excellent analytical and problem-solving skills. They should stay updated on tax laws and regulations, communicate effectively, maintain confidentiality, and have a commitment to integrity and ethics. A good accountant is also client-focused, helping you achieve your financial goals.
Are accountants boring?
Accountants are often unfairly stereotyped as “boring,” but this is far from the truth. Accountants are professionals who work with diverse clients and financial situations. They use their expertise to help individuals and businesses succeed financially, which can be very rewarding and far from boring.
How do I minimize tax?
Minimizing tax legally and ethically involves strategic tax planning. An accountant can help you identify deductions, credits, and exemptions you qualify for, structure your finances efficiently, and explore tax-advantaged investments. They can also advise on timing income and expenses, taking advantage of tax-efficient accounts, and staying compliant with tax laws.
What does an accountant do?
Accountants offer a range of services, including bookkeeping, tax preparation, financial statement preparation, audits, financial analysis, and strategic financial planning. They also offer guidance on compliance with tax laws and regulations, investment decisions, budgeting, and more. Their services depend on your specific financial needs.
Why are accountants important?
Accountants play a crucial role in helping individuals and businesses manage their finances. They ensure financial accuracy, reduce tax liability, offer financial guidance, and provide valuable insights for informed decision-making. Accountants help clients achieve financial stability and success.
Should I do a business plan?
Yes, creating a business plan is essential for the success of any business. A business plan outlines your goals, strategies, financial projections, and operational plans. It serves as a roadmap to guide your business and secure financing. An accountant can help you with the financial aspects of your business plan.
Do accountants like their job?
Many accountants find their work rewarding and fulfilling. They enjoy helping clients achieve financial success and thrive in diverse roles within finance and accounting. The job satisfaction of an accountant can vary from person to person, but many take pride in their contributions to financial well-being.
What experience do you have?
The owners of Seagrave French have been running accountancy practices since 1997. But we specialise in owner-managed businesses. We act for hundreds of owner-managed clients.
Our team is experienced, and we have excellent staff retention, with many staff working for the partners for over 20 years.
How easy it is to change accountants?
Changing accountants is straightforward. There are agreed protocols for accountants when clients change. All you need to do is advise your existing accountant and permit them to provide us with the information we require, and we take care of the rest.
Do you charge me every time I ask a question?
No. We expect that a client will require support from time to time with queries, so we build unlimited email and phone support into our pricing, subject to a fair use policy.
Sometimes, a query will mean more than just a call or email, and we may have to charge, but we would always agree on any extra cost with you in advance.
How do your prices work?
We use a fixed pricing model with our clients. This means that we agree in advance each year what your fee will be. We would not expect your price to change yearly except for inflationary increases unless something fundamentally changed about our work or your business. Any changes would always be agreed in advance.
Do you have references?
We have many satisfied clients; please look at our testimonials for details of our clients who were moved to talk about the service. We also have an excellent google review score.
Can I pay my accountant monthly?
It’s up to you; some clients prefer to pay their fees by monthly direct debit, which is okay with us. But others like to pay us each time we carry out a piece or work. It’s entirely up to you.
What accounting software should I use?
We recommend Xero for our business clients as an accounting package, but we can also work with other software options, like Sage, Quickbooks, or Freeagent.
For our landlord clients, we recommend Hammock.
What form should my new business take?
The decision about the form of your new business is a complex one. Happily, we offer a free initial meeting to potential clients. In this meeting, we can help you understand the issues that contribute to the decision so you can make an informed choice.
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Whatever your ambitions, we will commit to them wholeheartedly and deliver the premium accountancy services you deserve. Get in touch today to book a chat with our chartered accountants in Nottingham at Seagrave French.