Every Hertfordshire business, however large or small, needs an accountant. And so do charities and not-for-profit organisations.
You might need advice on how to start a new company, or how best to plan your exit strategy from a well established business. In both cases, the key to getting good advice is to find a good accountant. Here’s some advice on how to do that.
A Good Accountant is a Good Investment
A good accountant is rarely the cheapest accountant. They do not need to compete on price, because their clients know they are an investment in the success of the business. A skilled accountant helps improve cash flow, reduce tax liabilities, identify opportunities for growth and ensure that your business remains compliant with ever-changing tax regulations. They provide valuable financial insight that supports better decision-making, helping business owners understand profitability, manage budgets and plan for the future with confidence. A good accountant can save far more money than their fees, while enabling business owners to have more time to focus on growing their business.
Tax Advice
The most basic duty of an accountant is to make sure the legal obligations of the company are met. Paying tax is a burden on a company’s financial resources, and calculating how much tax should be paid is a burden on management resources. The rules for corporation tax, VAT, PAYE and NI are all complex, arcane and ever changing. A skilled accountant makes the process simple, and makes sure all the deadlines are met. Of course, they will also help make sure that the company does not pay any more tax than it needs to.
Business Advice
Where leading accountants truly make a difference is through providing insightful, practical business advice. They are far more than just number-crunchers; they serve as trusted advisers who understand every aspect of the organisation. By working closely with the company over many years, they develop a detailed understanding of its structure, operations, and financial trends. Their experience across multiple industries also gives them a unique perspective, allowing them to identify effective strategies and highlight potential risks before they arise.
This advisory support can take many forms, depending on the specific needs of the business. It might involve one-off consultancy on key issues such as cashflow optimisation, growth planning, or organisational restructuring. Alternatively, it can be part of an ongoing partnership, such as the regular preparation and review of management accounts to guide strategic decision-making. Many accountants also act as a valuable sounding board, helping business owners refine ideas and assess whether their plans are both commercially viable and financially robust
A Good Investment
A good accountant is a good investment, not a cost to the business. They will more than pay for themselves. Many Businesses in Hertford rely on HB Accountants. They have been advising Hertfordshire businesses since 1921. The reason they have continued to thrive as a business for one hundred years is because of the quality of the advice they give. They are based in Hoddesdon, near Broxbourne, and have a strong client base in Hertford.
Supporting the Hertfordshire Business Community
HB works hard to support the business community in Broxbourne, Hoddesdon, Hertford and throughout Hertfordshire. They have been based in Hoddesdon for more than 40 years. They are active participants in many local business networking groups, and organise their own Ladies Networking Lunch, empowering Hertfordshire & Essex business women. They support the Hoddesdon Business Improvement District, and the annual Ambition – Inspiring Business Success events in Broxbourne, including taking leadership roles in both organisations.
Recognition in Hertfordshire
HB receives a lot of recognition for their achievements in Hertfordshire. Recent awards include:
- Regional winner Apprenticeships & Skills Awards 2024
- Top 50 SME Apprenticeship Employer 2023: they were ranked 26th in the top 50
- Inspiring Hertfordshire Awards 2022: Highly Commended in the Business of the Year East Herts category
- Inspiring Hertfordshire Awards 2022: Highly Commended in the Apprentice Champion category
- Hertford Regional College Apprentice Employer of the Year: finalist in 2019.
One Hundred Years
IN 2021 HB Accountants celebrated their 100th anniversary. The original founders, after whom the company is named, were Mr Hardcastle and Mr Burton. They started the company in London on 5th February, 1921. Mr Hardcastle stayed with the firm for 52 years, until his death aged 91 in 1973.
One Hundred Years, and Still Innovating
The business landscape is ever-changing. Brexit and Covid are two recent examples of changes that have had massive impacts on Hertfordshire businesses. Tax and technology are also ever-changing. A good example of both is MTD, which is HMRC’s strategy to make Tax Digital.
It is important to choose an accountant with strong innovative thinking. HB’s century-long history is built on successful adaptation. For many businesses, moving to cloud accounting delivers clear cost and efficiency gains compared with keeping data accessible only in the office. It supports home working and gives your accountants instant access to your financial information, making their work smoother and their advice more effective.
Many clients also appreciate HB’s outsourced payroll service, which removes the burden of managing real-time payroll reporting to HMRC. HB takes full responsibility for accurate calculations across tax, national insurance, student loans, maternity pay, sick pay and more.
Staff Loyalty and Customer Loyalty
HB has a great record of customer loyalty. It’s very rare for their clients to decide to move on to a new accountant. That’s because HB never gives them a reason to want to change, by their excellent customer service. And part of the reason they have excellent client loyalty is their excellent staff loyalty.
Staff turnover at HB is very low, reflecting their positive working environment. Businesses that look after their people usually deliver better service, and HB’s team builds long-standing relationships with clients. This continuity means clients deal with someone who knows them and understands their business, making everything run more smoothly.
Here’s some examples. In 2022 tax expert John Neighbour retired after 45 years with HB, He first joined in 1976! Director Keith Grover joined in 1986, when there was one computer in the office: he has worked for HB for 40 years, with more to come. And a relative newcomer, Catherine Hill, joined the board of the company in April 2024, after 20 years with HB. She joined HB as a trainee in 2004, and qualified as a chartered accountant in 2014.
Apprenticeships: Diversity in Building a Career in Accounting.
The traditional way into a career in accounting is for new graduates to join an accounting firm and work their way through the professional exams. HB recognises this is not what everyone wants, so they offer apprenticeships, leading towards a professional qualification from the Association of Accounting Technicians (AAT). Their apprentices are paid, unlike university students. They get on-the-job training and professional skills development, as well as working towards their qualification.
The AAT says “We help people and businesses develop by providing practical finance qualifications and support.” And that’s exactly what HB wants for their apprentices: that they can learn practical skills, contribute to the business, and build a good career.
Keen on Green
HB are committed to going green, by limiting their impact on the environment. They use 100% green web hosting, and this is recognised by the Green Web Foundation: click here for details. They are part of the Net Zero Silver scheme, which promotes learning about Climate Change and how businesses can respond to it. From this, they have identified the business risks and opportunities that climate change brings to businesses.
Why Hertfordshire businesses benefit from Hertfordshire accountants
Nowadays Herts businesses can choose anyone, anywhere as their accountant. Here’s why we believe they are wisest to look for a local Herts accountant.
- they understand the economic landscape and commercial challenges of the area
- face-to-face meetings, lead to clearer communication, faster decision-making and stronger professional relationships
- they can recommend the trusted and reliable local businesses every company needs, such as IT experts and solicitors
- they can recommend their clients to other clients and to their contacts, giving a new route to find new business.