A contractor accountant isn’t like other financial experts. Whereas a regular accountancy firm will deal with dozens of clients at a time and offer a much broader knowledge, contractor accountancy focuses on the finances of self-employed professionals, such as limited companies and sole traders, and offers a truly specialised service.
Make no mistake, the life of a contractor involves significant amounts of financial administration, and many who are new to the industry find this additional responsibility completely overwhelming. While you may be completely swamped by a heavy workload, nothing is more important than the management of your finances, which is why you should find a specialist who truly appreciates the complexities of contractor accountancy.
However, even when you’ve decided to hire a contractor accountant, you’ve still got to decide which one is right for you. Here’s a quick rundown of what to look out for when choosing an accountant and what makes the team at Brookson stand out from all the rest:
Consider Your Own Circumstances
Every self-employed professional is different. Some may work on longer projects and operate as a limited company; others may take on more sporadic, shorter assignments and work under an umbrella company. Along the same vein, every accountant will have their own areas of expertise, so you need to find one with the financial knowledge which relates to you.
If you’re setting up as a limited company, for example, you’ll want to find an accountant who has particular expertise in IR35, while sole traders may prefer someone who specialises in completing and submitting self-assessment forms. The best accountant for you will be an expert who completely understands your concerns, issues and needs, and also provides the knowledge to address them.
By signing up with Brookson, you’ll be provided with your own dedicated accountant who specialises in your area of self-employment; ensuring you can always get the best advice and support possible.
You’re hiring an accountant because of their financial knowledge and expertise, and they just can’t provide you with these things without a vast amount of experience under their belt. You don’t just want an accountant who will take care of all the paperwork and give you one less thing to worry, but instead a true financial expert who can help to maximise your profit and grow your business.
Before even approaching an accountancy firm, you need to make sure they have a proven track record and that you’ll be placing your accounts into a pair of steady, capable hands. Brookson, for example, has been offering accounting services to contractors for over 20 years now, helping more than 90,000 self-employed professionals to turn their business into a success.
Although you undoubtedly want your accountant to submit relevant paperwork, keep on top of deadlines and ultimately make sure you aren’t breaking any tax rules, it’s also important you maintain a certain level of control. After all, this is your money we’re talking about, and you should always be confident it’s being looked after properly.
Brookson Connect is a unique online portal which gives you more control and visibility of your accounts. You can claim expenses, track invoices and check transactions directly through the platform, ensuring you’ve always got a complete handle on your finances and letting you check your accounts on-the-go.
If you’re looking for a reliable all-inclusive contractor accountancy service, then contact us today and claim your FREE consultation! There’s no obligation, no pressure, just some free advice which helps to grow your business and shows why we’re the best around.