Choosing the right accountant can make or break your small business. A great accountant should do far more than simply keep you compliant with HMRC. They should help you grow, save money, and give you the financial confidence to make smart business decisions.
But what if your accountant is actually holding you back?
At Knowles Warwick, we work with SMEs across South Yorkshire—from Sheffield to Rotherham, Doncaster to Barnsley—and we often hear from business owners who feel underwhelmed by the level of support they’re receiving. If you’re unsure whether your current accountant is giving you real value, here are the red flags to watch out for.
They Only Contact You at Year-End
If your accountant is only in touch when it’s time to file your accounts or submit your tax return, that’s a sign they’re focused on compliance—not growth. While year-end filings are important, they’re just the bare minimum.
What to Expect from a Proactive SME Accountant:
- Quarterly reviews or management accounts
- Ongoing tax planning advice
- Updates on changes to tax law or government support
- Regular strategy sessions aligned with your goals
A good accountancy firm will be in your corner all year round—not just in December.
They Don’t Understand Your Business or Industry
Every sector has unique financial challenges, whether it’s fluctuating cash flow in construction or R&D opportunities in tech. If your accountant offers generic advice without taking the time to understand your industry or your local market, they’re not delivering tailored value.
Why Local Matters:
Your local accountant based should have insight into:
- Local grant schemes and business support services
- Regional economic trends
- Industry-specific tax reliefs (e.g., capital allowances, R&D tax credits)
The best accountants will use their local and sector knowledge to give you a competitive edge.
You’re Not Getting Strategic Advice
Are you getting help with business planning, budgeting, and forecasting? Or is your accountant simply reacting to the numbers after the fact?
Many SMEs don’t realise that a modern accountant can (and should) act as a business advisor—offering insight into profitability, growth opportunities, and risk management.
Ask Yourself:
- When was the last time my accountant helped improve my margins?
- Do they help me plan for the future—or just record the past?
- Have they ever suggested ways to streamline costs or increase revenue?
If you’re not getting this kind of support, you’re missing out on the full value of quality accountancy services.
Poor Communication and Missed Deadlines
Late responses. Missed calls. Forgotten deadlines. These are more than annoyances—they can seriously impact your business. Late filings can lead to penalties, and missed opportunities can affect cash flow or growth.
A professional accountant should be reliable, responsive, and accessible. You should never have to chase them down for answers.
They’re Not Helping You Save Tax
One of the most important roles of an accountant is proactive tax planning. If your accountant isn’t regularly reviewing your structure, expenses, or allowances to help you save money, they may not be working in your best interest.
Common Missed Opportunities:
- Claiming all allowable expenses
- Optimising your salary/dividend structure
- Making use of R&D tax credits
- Timing investments for tax efficiency
A top-tier business advisory accountant should help you minimise tax legally and ethically, while keeping you fully compliant.
Time for a Change?
If any of the red flags above sound familiar, your accountant may be limiting your business’s potential. Your accountant should be a partner in your success—someone who supports your vision, anticipates challenges, and gives you the confidence to grow.
At Knowles Warwick, we specialise in helping SMEs in South Yorkshire thrive. We go beyond the numbers to provide strategic advice, personalised support, and real results.
If you’re wondering whether you’re really getting your money’s worth from your current accountant, it might be time for a change. Book a free, no-obligation consultation today and find out how we can help your business move forward. Don’t forget to follow us on LinkedIn and Instagram for daily business news and advice!
