Are you unhappy with your current accountant, or finding that they don't quite understand your needs as a contractor? If so, it might be time for a change.

The last thing you want when contracting is trouble with your accountant. Your finances are so important, and not something you can afford to let slip. But how do you know if you need a new accountant, and what can you do to make the change?

How to tell you if should consider a new accountant

It might not be clear that your current accountant isn't fit for purpose. However, there are a few warning signs you should be aware of that will let you know that it might be time for a change. For example, are you finding that you are being hit with unexpected charges, or a tax bill higher than expected?

Your accountant should make sure you're aware of the fees coming your way and if they aren't keeping you informed, it can be a major problem for you and the end of the Tax Year.

A creditable accountant won't just be managing your finances, they should be making sure you're working compliantly and making you aware of your IR35 status. Your accountant should be aware of the implications IR35 has on Contractor, but many may not be or have the in-house services to provide you with this support. This is especially true if you have opted for a high-street accountant.

As a contractor, your needs are likely to be specific, especially if you are working in sectors such as Engineering and IT. A high-street accountant might treat you like any other client, not realising that your self-employed status needs a different approach.

Ultimately, you should feel in control of your finances. Even though you've taken on a professional to help you with manage this, you should still expect complete transparency over your situation. If you find this is not the case, or that it takes too long to get an accurate picture of your finances, then your accountant might not be the right one for you.