Five Reasons You Should Employ Accountants For Contractors
Accountancy for contractors is not as simple as for some other business models and it is really essential that anyone in business in this way or planning to set up as a contractor makes sure they have backing from a suitably experienced firm. There is not just the obvious pitfall of annual accounts, but also the actual setting up of a limited company and the complexities of IR35 to consider. For anyone undecided whether to employ an accountant for contractors, we urge them to check the list below and then give us a call for more detail if they would like to discuss anything.
You can save a lot of money by employing accountants for contractors.
At first glance it may seem a contradiction in terms that paying someone money every month can actually save you money, but with such heavy fines for late filing of accounts, incorrect setting up of a limited company or misuse of IR35, it makes sense that having an expert on board to carry out these difficult tasks is very cost effective.
You can save a lot of time.
When you are a contractor time quite literally is money. If you are stuck in the office doing paperwork you canâ€™t be out in the field doing what you do best. It is counterproductive to spend your precious time in wrestling with annual accounts when you could be earning money. When you also take into account that you will almost certainly spend far longer to achieve the same end as a specialist accountant for contractors, the advantages of having them on board become obvious. You can also rest assured that the paperwork will be done right, first time.
You can save yourself a lot of stress and sleepless nights.
Working for yourself can be stressful enough and if you have staff the stress is multiplied. What you really donâ€™t need is the worry of paperwork stacking up in the office when you should be out working and if payroll is due, that stress can become crippling. You will be no good to your business or your staff if stress erodes your good health, so employing an accountant for contractors is the commonsense choice. You can then leave it all to them, and get a good nightâ€™s rest, every night.
Perfect if you hate surprises.
Most accounts working with contractors arrange a monthly fee and this is perfect for cashflow and peace of mind. Some people put off getting an accountant but we arrange to be paid monthly so you will always know exactly what your outgoings will be.
Keeping up with legislation
There is already a lot of legislation which surrounds the owner of a contractor business and there is always more coming down the line. Understanding it all is an absolute minefield but with an accountancy firm for contractors working on your behalf, you never have to worry that you may inadvertently break a rule. As this can carry severe penalties, even when done as a mistake, this is not only a stress reliever, but also a money saver.
Call us today or request a call back by completing our online form and claim you FREE no obligation consultation with a fully qualified and experienced contractorâ€™s accountant.
~Accountants for Contractors~