Now that you’re a contractor with your own limited company, you’ll need to make sure your business is meeting all its statutory and legal obligations, and that you’re paying the right level of tax, amongst a whole heap of other time-consuming, stress-inducing things.
That’s where a first-class accountant comes in.
A great accountant will let you get back to business without having to worry that your accounts aren’t being taken care of. By equipping yourself with the right knowledge, research, and a solid idea of what you need, you’re set to make the best informed decision for your business. That’s why we’ve put together a list of our top tips to help make choosing an accountant the easiest thing you’ve done all year.
– Choose an industry expert
In a world where choice is abundant, choosing an accountant who is a specialist in the contracting and freelancing field is a wise move. A specialist accountancy firm will be up-to-date and well-versed in legislation like IR35 and AWR, and have insight into how contractors operate. Make sure your chosen accountant can provide you with sound advice on how you can make your earnings as tax efficient as possible. Don’t settle for anything less.
– Dedication is key
If the accountant you’re considering has dedication and trustworthiness covered, it can only mean good things for your business. From providing you with timely, accurate advice, to ensuring your accounts are comprehensively taken care of, to simply being there whenever you call – you won’t go far wrong with choosing an accountant who is truly dedicated to you and their field.
– Cloud accounting system and online portal
Long gone are the days of endless paperwork. The future is now. That’s why it’s essential you choose an accountancy firm that’s up-to-date with new programs & software, and keeps its finger on the pulse of changing trends, to keep your business running as efficiently as possible.
Cloud accounting lets you take care of your accounts in just a few clicks, including updating and adding information, keeping track of finances 24/7, giving you full control over important factors like invoicing and credit control, plus lots more.
– Get extra as standard
To make sure you’re getting the most for your money, it’s not unreasonable to ask for a little extra from your accountant. If you’ve whittled your list down to a choice of two, additional services offered could be the deciding factor. Extras could include anything from same-day limited company formation, to no exit fees and completing your personal tax return. It’s a good idea to compare packages to ensure you’ll be receiving all of the services you require.
– Gold star service
Choosing an accountant might be as simple as looking at whether or not they come recommended. Even if you choose to skip all of the tips we’ve included here in favour of keeping the decision-making process basic, we don’t suggest missing this one. Whether it’s through word-of-mouth, or a specialist website search like Freelancer Supermarket, a sparkling recommendation or testimonial may be all the evidence you need to get going. So, do your research well, ask lots of questions, and ultimately choose the accountancy firm that caters to all your needs – and then some.