"A Limited Company means you can claim full benefits from being self employed. You will need to hire an accountant or balance the books yourself."
It is essential that you choose the right accountancy and you feel comfortable with the services they provide. Here are a few tips which we have put together on helping you select a provider that you are confident using.
It is not always best to choose an accountant based on price, service satisfaction does vary for each provider and it is very important to select a provider based on service, accuracy and speed. When selecting a provider remember, In most cases you get what you pay for.
What are the charges?
Many accountants charge lots of different fees and in some cases there are hidden charges. To be sure, always ask if there is additional charges for:
Start up costs
Tie in periods
Close down fees
Be sure to confirm monthly costings and ask if VAT is inclusive to the package they offer.
Is there much support?
It is always important you have a point of contact. Having an account manager or an account team helps if there are any issues or discrepancies on your accounts.
Ask for a direct number for your account team
Ask for a dedicated email to contact
Ask the response times for any queries you may file
Most accountants do offer direct support.
Submitting your time sheets and expenses can sometimes be a lot of hassle. These days many accountants provide an online portal so you can submit your hours and expenses with ease.
Do they have an online portal?
Ask for step by step tuition for their online portal
Teach yourself how to use the portal early on
Ensure you have any passwords needed for access
Online portals are there to make your life easier, be sure to familiarise yourself at the first chance to ensure remmitance advice is offered to you promptly.
There are thousands of professionals in the accounting industry, it's a big business and salesman are at work to sign you up. If you do not feel comfortable with the conversation, do not sign up.
Don't feel pressured to sign up
It is important to have a good relationship with your provider
Good providers will have a professional approach
Speak with other providers to compare your experience
Ensure you speak with more than one provider and do not sign up with an accountancy through haste as you may regret it.
All you need to know about the basics of becoming a self employed contractor.
Feel free to call us if you would like to speak to a member of our team for expert advise.
Choosing a good accountant
The one stop shop for contractors
Speak to us 01462 510 900