Welcome to this month’s blog of 1-2-1 sessions with our members. This is an opportunity to expand on a member’s profile and give some personal insight into what they do and why.

This month is Steven Lescott of Lescott Accountants, a firm based in Wickford offering services to businesses and individuals throughout south Essex. In addition to the core accountancy and taxation services, such as payroll or bookkeeping, the practice helps businesses to plan and grow.

“We provide a cost-effective, high value solution to meet all your financial needs,” says Steven. “We work hard to get to know you in order to deliver timely, individual advice on how to improve your business and personal wealth.”

Lescott Accountants is a general practice, working with a range of clients, from individuals to businesses, covering a number of industries. They also work with charities as part of the independent examination regime.

“We have no niche client. Some practices may specialise in a particular industry but we’ve always found that restrictive. It’s good to have a broad experience,” adds Steven. “Our client base is fairly stable but we have noticed an impact from IR35 – some contractors no longer needing accountants since they’re now on the payroll.”

Steven started in accounts right from school at 18. He had always enjoyed working with numbers and did ‘O’ and ‘A’ Levels in accountancy. After school he joined a firm in west London, which specialised in theatrical and artistic clients. After a few years he went self-employed in 2000 and Lescott Accountants was formed in 2012.

“Many feel an accountant isn’t the necessity it once was,” says Steven, reflectively. “When I started everything was manual and all companies had to be audited. During my career we have seen automation and the audit threshold rising. Now, any company under £10mn turnover need not have an audit. This has meant the accountancy profession has changed as well. We’re more advisers but the traditional work, bookkeeping, payroll admin and so on, remains.”

“So much can now be done quickly with appropriate software that many go it alone, without an accountant. But, just because one has the software for accounting doesn’t mean you know what to do. There are nuances to things and it is so easy to get it wrong.”

“There can be a lack of understanding and appreciation of tax rules and the time it takes to complete returns etc. VAT is complex but some try and do it themselves and create issues. It is better (and cheaper in the long run) to use an accountant and  have it right first time. An accountant has a more direct line to HMRC, so queries can get sorted quicker as well.”

Steven advises the bulk of new work comes from referrals either from existing clients or via networking, demonstrating the quality of service provided by Lescotts. Some clients have come to him after being let down by others. He gets matters sorted and the client stays for good.

“We have continuity of service,” Steven says. “We are a small firm and so we get to know the client and their business well. When a client contacts us they get the same person each time. Newer clients always say how they’ve preferred that to dealing with someone different each time. There’s a personal touch. We’re always available for advice – better to talk to us first when making financial decisions.”

So, if you are looking for a more personal service for your accountancy and taxation needs, why not get in touch?