Accountant for online business?

[Dan Banrard]

Hi all,

Just wondering if you could help me a bit please if possible

I started an online business as a sole trader in 2016 and in the last couple of months have switched to a LTD company. My business involves managing websites and receiving income via advertising and affiliate channels (much like this forum does).

I did my last self assessment returns by myself and with the help of a friend, but as things have become more serious with the business now, I'm on the lookout for my first accountant, but not sure which road to go down.

I'm a bit worried that if I find an old-school local accountant, although they'll be closer if I need help, whether they'll be completely up to scratch with this type of online business. On the other hand, there are online accountants, but I've heard mixed things about them?

Although the business is relatively simple, I receive some money in USD, some in GBP, and some in CAD, and some money goes straight to my business bank account and some goes into a virtual account (Transferwise.com), so I guess that can complicate things.

I'm just wondering if any of you guys have any advice as to what my next step should be and what sort of accountant you think I should talk with as a start?

I live in Suffolk if that helps (if you have any recommendations in the area).

Your help is much appreciated!

Kind regards,
Dan

 

[Paul Kelly ICHYB]

Why not speak to a couple local accountants and see what they have to say for themselves!

 

[Mr D]

Whatever accountant you end up using its a good idea to see whether you think its worthwhile using them.
In this day and age there isn't an overwhelming reason why everyone should use a local accountant unless personal meetings are what you are after.
Most things should be able to be done by phone and email.

Talk (or email) an accountant and find out if they can do your business before taking them on.

If something puts you off, try another accountant. I rejected two before choosing an accountant this time, rejected several with my previous business before picking one.

 

[Blue Sky Accounts]

I have to agree with Loukia, you don't run a local business so why should you be limited to the accountant on your high street.

As your LTD business is quite new it will be the perfect time to set up good practices. There are quite a few cloud-based options that can defiantly help out here.

Another advantage is that you can get information on your business at short notice. I am currently helping a client who is buying a business. He has been informed by the seller that he cant get his current accounts without paying a huge fee!

Let me know if you need any assistance.