Five simple tips

1. Refuse to pay by the hour or for minimum units of time. If your accountant hasn't yet moved into the 21st century and only charges by reference to the time they spend rather than the value they provide, find one who has!

2. Don't let them to do things you can do yourself - if you have the time and inclination.

3. Ask them what you can do to reduce the time they spend producing your accounts, auditing your accounts, producing your tax returns and how much they will reduce your fees if you do those things properly.

4. Get a written assurance that they will sit down with you at least once a year at no additional charge to see what else they could do for you.

5. Do not pay standard hourly charging rates regardless of the work done. Most accountants set the rate for the person not for the work, so if an accountant does some photocopying they could well charge at the same rate as when giving you valuable advice.