If you are planning to recruit an accountant who specializes in contractor accounting, then a few things must be considered before you take the final step. Choosing the right accountant is extremely necessary for saving the accounting fees by many times by effective and efficient management of tax affairs.
Tips for hiring contractor accountants
Ensure they are specialists
Before looking at anything else, you need to look for a team of specialist contractor accountants. Of course, you will most definitely want to hire an accountant that understands tax issues involved in a contracting business. You should look for firms who are dealing with the contractor or freelance market. This is the most important step as this will keep you at an advantageous position, unlike the other high street accountants.
Know the additional services that they offer
Like any other businesses, accountants for contractors also offer packages to their clients. This may include things such as completion of your annual self-assessment return and IR35 contractual advice. If you are just about to begin your contract, your accountant can also help you with some issues in setting up your company. They can help you register for VAT and any other services that will require their expertise. You can compare the services that they provide including the fees that they incur and select the best contractor that will suit your needs.
Know the price
Before hiring it is always advisable to enquire about the price, cost or charge of the accountant and what are included in it. The prices will usually be different depending on the firm. However, the services included payroll, annual accounts, tax returns, VAT returns, self-assessment, references and so on. After making a survey of a few companies, one should come to a conclusion. Apart from things included, one must ensure whether the price list includes everything because, on many occasions, the hirer gets a supplemental bill of additional charges.
Consider personal recommendations
Among the other tips, this is the best way to look for a good firm of contractor accountants. With the help of other contractor colleagues, you can find the best accountants that can help you. They already have experience in dealing with them, and you can be sure that they can provide the services that you need based on the testimonials of your colleagues.
Thus, hiring contractor accountants is not a complicated procedure if one abides by certain rules, regulations and guidelines as mentioned above. These shall enable one to hire competent contractor accountants.