How to Choose Contractor Accountants
If you have worked as a contractor for a long time and wish to create your own limited company, you may not know what actually works in such companies. And, when you don’t have the expertise to understand the nitty-gritty of running a company, you need to look out for contractor accountants.
Not only they will help you save your time and money but also carries out tax affairs of your business efficiently.
So, how to find a contractor accountant who can help you manage your finance? Read the points below and keep them in mind to ensure you get what you need.
Is the accountant a specialist in your contracting area?
An accountant should be specialist in your affairs and totally understand your contracting needs. Along with that, he/she must have a thorough understanding of IR35 which can affect you immensely.
Note: Avoid high street accountants as they do not have knowledge on the contractor’s needs.
How much is the charge of the accountants’ services?
When you have accountants working for you, you are usually required to pay between £60 and £150 per month for their accountancy services. The services include dealing with Companies House, managing company payroll, and completing your company’s annual accounts.
Note: Do not go for general accountants even if you find contractor contractors fees high.
Is the accountant trustworthy?
Trust is one of the main traits of reliable accountants. That is why you need to research and get reviews and recommendations from the clients who have previously used their services to know about their trustworthiness.
Note: Do not choose the first one you get. Instead search, make a list, filter and compare them and decide.
Is the accountant updated with technologies?
Nowadays with constant evolution of technology, accountants also have become tech-savvy which help them in doing the accounting job even more conveniently. However, not all the accountants are used to this advanced technology. Hence, when searching a one, you need to know whether they use latest technologies for doing their work or not.
Note: Ask about whether the accountants use advanced online accounting system or not.
Contractor accountants can be a valuable source to your company. So, take your time and choose the one who can fulfill all of your needs.