[vc_row 0=””][vc_column 0=””][vc_column_text 0=””]There are a few different routes to take when choosing your accountant: some people will value a local firm, some will want an experienced specialist in their sector, some will like to know the cost before starting.
All of these are pertinent points and good places to start from.
So, are you going to be able to meet your accountant and will they know your business inside out?
More often than not if you’re a contractor or a freelancer, you are going to benefit from having your own dedicated accountant; not working with an accounting firm that has several different departments all dealing with just one element at a time of your company and taxation needs.
Can they promise at the start that their service will be fully inclusive and how much this service will cost you?
Traditional accounting practices keep track of their time using timesheets breaking down hours into ten lots of six-minutes, for example. Every call received, every email, every response is logged and charged, along with the work of the office juniors when they prepare your quarterly VAT returns or run your monthly payroll.
Are the accountants going to be fully aware of the IR35 legislation and are they going to have the relevant experience in the consultant, contractor and freelancer market?
Unless they are a specialist contractor accountancy firm, the vast majority of accounting practices will have experience that covers owner managed companies but don’t have full awareness of the IR35 rules, missing the little nuances such as the advantages of a personal service company and the flat rate VAT scheme.
Does their experience include providing tax advice and accountancy services to consultants, contractors and freelancers?
Do they know of and understand the importance of areas such as IR35 legislation, conduct regulations, agency worker regulations, managed service company legislation to your contract?
IR35
Conduct regulations 2003
Agency worker regulations 2011
Managed service companies[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_separator][/vc_column][/vc_row][vc_row][vc_column][vc_column_text][text-blocks id=”430″][/vc_column_text][/vc_column][/vc_row]