How To Choose A Contractor Accountant In 7 Easy Steps
Choosing the right contractor accountant is something which can have a huge impact on not only the success of your business but also the ease with which you will be able to run it. Getting it wrong can land you with all kinds of worries in respect of fees and fines and so getting it right first time is going to save you time and stress. As a contractor, you have all kinds of responsibilities regarding statutory and legal requirements and you canâ€™t possibly know it all yourself, so going to an expert is recommended. When you think you have identified a good accountant for contractors, use the checklist below to see if they are â€˜the oneâ€™. We like to think that when you have checked all of these points against what we can offer, you will be in no doubt that we will be the accountancy firm to choose.
1. Are they willing to start working for you before your business set-up is complete? It makes it much easier for you if they will because accountancy starts from the ground up.
2. Are all of the staff qualified? This may sound obvious, but some contractor accountants use staff who are simply book-keepers and this is not appropriate for a contractor, who may have very complex needs regarding not only legislation but also the difficult business of how much income to take from the company and when to begin.
3. Are the staff specialists? There are specific industry legislative issues which need an expert. In a large firm, you will probably find that certain staff tend to deal with certain accounts. In smaller firms it might be the case that the one or two staff will only deal with certain business areas, so if you are in an unusual sector, this might not be the one for you.
4. Check the fees, but beware â€“ the cheapest quote is not always the one to go for. In some instances, it would be better when choosing your accountant for contractors to go for one who is a little more expensive but offers extra services, such as chasing tax refunds for you or completing your personal tax return. If however you donâ€™t feel you need the extras, then the cheapest may be the best for you.
5. Find out what the typical turnaround time is for completing your accounts. There is nothing worse than an accountant who needs constant chasing; this is a waste of your time and also stressful. When you ask this question you may not get a totally accurate answer â€“ donâ€™t be fooled by a firm that mentions an unrealistic goal.
6. Be sensible when choosing, but donâ€™t let your head rule entirely â€“ sometimes it is good enough to go with someone with whom you feel comfortable.
7. Get word of mouth recommendations if possible â€“ if someone you respect respects a particular firm of contractor accountants, then that is often reason enough to hire them.
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