After you’ve setup your limited company, it’s time to find a specialist contractor accountant that fits your needs and will be with you every step of the way. It’s hugely important you find an accountant that works for you, as a good accountant can save you money on your fees by managing your tax affairs.
Here at Brookson, we understand that the process of looking for specialist accountants for contractors can be a stressful time. So we’ve put together some tips for finding the best accountant for you!
Understanding you as a contractor
Most important, find an accountant that understands your needs as a contractor. It doesn’t help going to a high-street accountant as they are setup to draw in a wide range of people from several industries and won’t understand what you as a contractor need from day-to-day. Specialist accountants for contractors are experienced in contracting and contractor law, meaning they understand your needs as a self-employed professional.
If possible, speak to other contractors you may know, whether they’re currently contracting or previously have been, it’s great to get advice. They’ll know the correct way of doing things and may have a good opinion on a contractor accountant that you can speak to. References are usually the best way of judging which accountant to go with.
The price of accountancy services can vary depending on your needs and the services you receive so, make sure you know before you pay what’s included in the price. Typically you should expect to receive:
- Company Tax Returns
- Self-assessment Tax Returns
- VAT Returns
- Annual Accounts
- IR35 Reviews
- Access to a dedicated accountant
- Bookkeeping support
- Tax planning Advice & Support
One of the most important pieces of contractor specific tax legislation is IR35. It’s good to get an understanding of what this is but your selected contractor accountant should know what IR35 is and how to deal with it. If they don’t you may want to consider an alternative.
Get in touch with Brookson today and receive a FREE consultation! We’ll help you start your journey into your contracting career!