Study: My Understanding of Businesses

How to Choose the Best Contractor Accountancy Firm

It can be such a hassle to run your own company. As a director, you may have to deal with the tax obligations, Companies House, etc. However, this doesn’t have to be the case; you can hire a specialist accountant at a monthly fee to take care of these tasks.

If want a stress-free ride as a contractor, at least in financial affairs, it’s important that you hire the right accountant. You’d want to avoid some with poor communication skills, or worse, poor accounting skills. So how do you separate the best accountants for contractors from the rest? You might find the tips below helpful:

Find a genuine specialist
A 10-Point Plan for Accountants (Without Being Overwhelmed)

The accountant you hire should specialize in contractor affairs, and must understand the importance of complying with the IR35. It would be wise to avoid high street contractors as they don’t have this knowledge, even though they’re cheaper.
5 Key Takeaways on the Road to Dominating Services

Repute

A good contractor accountancy firm gets much of its business from word-of-mouth referrals, thanks to its decent reputation. Ask other contractors about the firms they’ve used in the past, and their overall experience with them.

Online research can go a long way if you don’t know other contractors. Browse through their reviews on authority comparison sites, to get a feel of what they have to offer. Not all these reviews are trustworthy, however, so you may have to check across a few other sites.

Fees

No doubt, you’re decision might be influenced by the cost of hiring the accountant. Bear in mind that paying more will not guarantee you excellent services. On the other hand, choosing the cheapest services you can find can turn out costly in the end.
Of greater importance is how comfortable you feel working with the accountant. You must trust them to be able to handle your tax issues competently. For this reason, don’t give price too much weight in your hiring decision.

Tech

Remember when contractors had to send paperwork in an envelope to their contractors to have it “processed?” Those days are gone. Today, the web makes life so much easier for both the accountant and contractor. Not all contractor accountants have embraced the newest technologies fully though. Some will ask you to upload your spreadsheets via an interface, despite claiming to have an online accounting system.

Firms that have actually adopted the newest tech do offer purely online services, where you can view and update your accounts in real time. The software they use may be different, but it doesn’t really matter so long as it’s user-friendly and efficient. Before you sign up with an accountancy firm, ask for an online demo so you know what to expect.