Do I really need a specialist contractor accountant?
The short answer is “yes”. If you’re contracting through your own limited company, yes you do need a specialist contractor accountant. It is, in theory, possible to do your own accounts but given how valuable a contractor’s time is, and how costly mistakes in this area can be, we believe you’ll find it to be a false economy. By engaging a specialist accountant you’re saving yourself a lot of unnecessary stress and inviting a highly qualified expert into your corner.
Won’t any accountant do?
One could argue that using any qualified accountant is better than doing your own accounts, but there are some compelling reasons to engage a specialist. Contractors are affected by a complex and constantly changing legislative landscape, requiring a depth of expertise and familiarity that is rarely seen in general practice. A specialist contractor accountant like Integro will have a deep, and most importantly up to date, understanding of this landscape and will be able to advise you reliably as your business, and the legislation affecting it, evolve. Integro’s fixed fee structure means you’re unlikely to pay more for our expertise anyway, so why take the risk?
What will an accountant do for me?
By making you aware of any tax planning opportunities, keeping up to date with all relevant legislation and ensuring your accounts are filed correctly and on time, your Integro accountant will save you time, money and stress. They’ll get to know you and your business and they’ll help you plan your finances with your particular goals in mind.
They will ensure you are trading in the most tax efficient manner, minimising both your company tax bill and personal tax bill.
Won’t I save money if I do my own accounts?
Your Integro accountant will provide expert advice, which is likely to save you money. In addition, simple accounting errors can be extremely expensive so doing your own accounts is unlikely to save you anything at all. And when you can have a close working relationship with a highly qualified specialist for a monthly fee of just £100 plus VAT, you have to ask yourself what your time, and peace of mind, is really worth.