4 Things Not to Say to Your Accountant

When hiring an accountant, there are standard questions to ask. How much are fees, can they manage your tax preparations and filings, is your data safe, and what is expected from you in return (i.e. do you need to fill out online forms). But what questions should you steer away from?

1. Do not ask your accountant to lie

When looking for an accountant, you search for someone with knowledge, experience, and integrity. After all, it is your money in their hands. You want to make sure they are the most reliable and cost-effective. So, asking this same professional to lie isn’t going to happen.

Most accountants won’t lie. Accountants are there to make your life easier. Hiring someone who fabricates your financial records on request makes your life complicated and puts your business in jeopardy – financially and legally.

2. Do not pretend to understand

Your accountant covers lots of topics. If you don’t understand something, then ask.

For instance, if your accountant is covering claimed expenses but you are unsure what this encompasses then ask for clarification. If you don’t, you could miss out on saving money.

Your accountant offers heaps of information regarding regulations, tax deadlines, and more. It’s okay to admit you don’t comprehend how it applies to you as a contractor. By asking questions and taking the additional time to learn, you discover new ways your business can develop.

3. Do not neglect an accountant’s advice

An accountant comes equipped with all-inclusive wisdom ready to assist you and your finances. They are present for you to rely upon for solutions to your business needs. Dismissing what your accountant says as insignificant can have costly ramifications.

4. Do not fictionalise or hide records

Hiding facts from your accountant prevents them from delivering a successful outcome.

If you conceal information from your accountant and a problem arises with HMRC due to these withheld figures then your accountant cannot execute preventative measures protecting your business from financial damage. The more information you supply, the better the job your accountant can do.

If you have any questions, feel free to contact us today.