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FAQs

You should expect your accountant to be much more than a bookkeeper.  Because many add considerable value, the trick is to select what is useful and valuable to you whilst rejecting what is irrelevant or worthless to you.  As in any relationship, it comes down to a compatibility of interests, experience and outlooks.  So, seek recommendations from your peers and ask prospective accountants the following questions.  For your benefit the given answers are from a Partner of Nyman Linden.

Are you qualified by and regulated through
    a recognised statutory body?
"I am a Fellow of (and, therefore, regulated by) the ICAEW (Institute of Chartered Accountants in England and Wales). As an FCA I have exceeded the accepted financial education levels, passed Institute- administered tests to prove my competency and have to embrace ongoing Continuing Professional Development to provide evidence to the ICAEW that my knowledge is keeping pace with current standards as well as with my clients' needs".
What kind of creative business advice will you offer me?
"Like any good accountant, I can deftly handle data and numbers; but I can also demonstrate quick and creative business acumen. Use your complimentary initial meeting with me to ask for 3 quick ideas on how your company might be able to save money right now. Also ask me for 3 examples in which I offered useful business advice to my other clients that went beyond just tracking the numbers. While 'creative accounting' is usually a negative, I find that having a creative business mind can be a huge asset towards helping your company to grow and you to benefit."
Do you consider yourself to be IT-savvy?
"Small business accounting software has made powerful accounting tools available to everyone. But these accounting packages are only as useful as the person who installs them and runs the applications. I will be happy to discuss the role computer technology can play in turning your business information into actionable business intelligence. Why not consider integrating your computer files with the technology in Nyman Linden? Let's see how the Internet can keep us both in touch and interchange financial information."
Who are your other clients?
"You should consider appointing me as your accountant based on the assumption that I understand the basics of your business and can advise you long term - not just month by month. I don't have and don't want to have 'thousands' of clients, which would mean me having to treat every client as a number, not a person. You will be dealing with me, a highly experienced Partner, not a 'Help Desk'. I will give you advice relevant to your specific situation, whereas a 'Help Desk' can only give out generic advice often read from a Q & A script on a computer screen. Feel free to ask me what businesses I work with. If you believe they are businesses similar to yours - that is a good sign. You will also be comforted by the fact that I will turn new business away if I was approaching a point where I was not able to give all my clients the time and resources to give them personal service and support them and their businesses adequately."
Is your business expensive?
"This rather depends on whom you are comparing Nyman Linden with. Compared to 'the Big Four', we are remarkably reasonable. Compared to a sole practitioner working out of his back bedroom, we are likely to be more expensive. I am not at all embarrassed to discuss fee rates because Nyman Linden's fees are known to be highly competitive and affordable. We recognise and work within the accepted market rates. Dependent on the level of care and service you require, I will let you know what your fees are expected to be. If your needs mean a time-based fee structure is more appropriate, we will agree the hourly rate as well as all fees for expense reimbursement. Be assured, a simple 2 minute phone call or a 1 page fax will not incur an hour of billable time!"
Will your fees increase after the first year?
"We do not 'buy business' because quoting a low fee for the first year and then increasing it substantially is no basis for a long-term, mutually beneficial relationship. Experience has shown us that service quality soon suffers and clients' expectations are not realised - a sure recipe for a disastrous and short-lived relationship. What you pay is always related to the range and depth of services you need. If additional services are required that we can provide in-house or we need to outsource, those fees are agree with you prior to the work commencing - we don't believe in surprises. We have never and never will offer a 'come-on' fee for year 1 that substantially jumps for year 2. Not only is this unethical, it's often a relationship breaker."
Do you accept stage payments of fees?
"Most of our clients request and are granted stage payments. It benefits Nyman Linden's cash flow as well as our clients' cash flow."
Can I call you for specific advice?
"Aspiring to be your 'partner in business' requires me to make myself available to you during normal office hours. Feel free to ask me whatever you like. You might have ambitions requiring tax-efficient routes from your current situation or, as with some of my clients, have the germ of an idea that can eventually be developed within your company and you want to know how I can help you raise finance, create a business plan, etc. But please expect a number of questions put back in your direction. This will show I am engaged in you as a person as well as the owner of your own business. This is precisely what you want - someone who will get involved personally and take an interest in your affairs."
Can you reduce my tax bill?
"I will always do my best because you and your business should not be paying any more tax than you have to. There are many legitimate means to reduce the tax burden and I will be working very hard to help you take advantage of them. I would hope to further reduce your tax bill by at least the same amount you are paying in Nyman Linden fees."
Who do you know that can help me?
"Like all my Partners at Nyman Linden, I have built a wide network of contacts over many years to help you in areas outside my skill sets. I can introduce you to people who might be useful to you including prospective customers, suppliers, bankers and investors. Just in case you are thinking talk is cheap, ask me for examples of introductions I've made in the past for some of my clients and how those introductions evolved."
Does it matter that I'm not very local to you?
"We have had clients across the UK (and abroad) for years. Providing you have easy access to telephones, fax/scan machines and email, it will not be difficult for us to stay in touch with each other."
Why should I use you?
"As a final question, you should ask me to make the case for why you should engage me. Remember you are buying a service where 'relationship', 'trust' and 'confidence' have to be on par with the ability to do accounts. Anyone can number-crunch and do a set of accounts. Only a proper accountant can interpret those figures to help you reach the medium and long-term aspirations you have for you and your business."



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