How to choose an accountant for your London business

Start with what you actually need

A sole trader needing annual self-assessment and a limited company with payroll, VAT, and R&D claims have very different requirements. Write down the tasks you need covered this year, plus any you expect to add in the next two years, so you can compare quotes like-for-like.

Decide who keeps the records. Cloud bookkeeping done properly by you (or a junior) with an accountant reviewing quarterly is usually cheaper than handing over shoeboxes of receipts.

Check qualifications and regulatory status

In the UK, anyone can call themselves an accountant. Look for membership of a recognised body such as ICAEW, ACCA, CIMA, or ICAS, which carry practising certificates, insurance requirements, and complaints procedures.

If your turnover exceeds £90,000 (the 2024 threshold, unchanged for 2025 and 2026), you must be VAT registered — your accountant should proactively manage Making Tax Digital compliance rather than treat it as an add-on.

Compare fees on like-for-like scope

Ask each firm for a fixed monthly fee covering a defined service list, and what triggers extra charges — company secretarial work, ad-hoc letters, or audit support are common exclusions.

Beware quotes far below the market: they often exclude the conversations you actually need. A good accountant includes at least one planning conversation per year in the base fee.

Ask these five questions before signing

Who exactly will handle my file day to day, and how quickly do they respond in year-end season?

Which software do you support, and is the subscription included in your fee?

How do you handle Companies House and HMRC deadlines — what happens if you miss one?

Can I see a sample of the management reporting you provide?

What is your process if I am investigated by HMRC, and is fee insurance included?