5 Reasons You Should Choose A Local Contractor Accountant
Setting up as a contractor in your chosen field is an exciting decision and many people have been employees or self-employed in the same area of expertise for many years so have no worries about the work itself but are wary about the complexities of the financial situation. The best way to relieve yourself of that particular worry is to get a specialist firm of contractorâ€™s accountants on board from the outset. There are very many to choose from, but we pride ourselves that we offer the best service in the marketplace; it is simply a matter of choosing the office nearest to you.
1. There are a lot of issues you will have to deal with as a contractor and you might find that you want to speak to your contractor accountants face to face and urgently. This can be difficult if you have chosen a firm a way away from where you live â€“ it makes sense if you live, for example, in Aberdeen to choose your contractor accountants in the Aberdeen area. This will make meetings far simpler.
2. Many contractors choose to trade as a limited company and this is an area that really needs the input of a specialist contractor accountant, as there are very heavy fines for doing the paperwork wrong at this early stage. Contractor accountants in London are very familiar with this issue as they have a large and well-populated catchment area, so if you live in the south east, choosing to stay local is a very wise move.
3. IT contractors often feel that the world is their backyard and when it comes to their business this is largely true. When it comes to accountants, though, it is far simpler to stay local so that any problems with, for example, the Inland Revenue can be dealt with at the local office. Face to face is always much better and a local contact can be worth its weight in gold.
4. The change from a consultant or employee can leave you with the choice as to whether to register under the legislation known as IR35. This is a complex issue regarding your relationship with your clients and has a serious implication on your tax due. The HMRC has paperwork explaining it, but it is far better to leave the decision as to whether you come under that particular legislation or not to a qualified contractor accountant. Because this issue is so complex, a meeting is best so that all issues can be thrashed out in one sitting, so a local contractorâ€™s accountant is the best choice.
5. Whether you are looking for contractor accountants in Aberdeen or any other part of the country, look carefully at the logistics of travel. If you choose a firm working in a large city they will be easier to reach by public transport, but there might be problems if you prefer to drive. The local accountants in a small town, however, may not have the expertise in contractor accounting, so it might be better to travel to, say, London or Aberdeen to get the service you need.
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Contractors have quite specific needs and accountants who deal with general company accounts are not always sufficiently experienced in these requirements. If you are local to the London area, it might be worth checking out what a Â Â Â Lonodn contractor accountaant can offer. Â Â Â Â Â Â