Financial

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Essential Tips for Choosing the Right Contractor Accountant Running one’s own company is no mean task. You may be task with meeting obligations such as tax, dealing with the Companies House, etc, as a director. However, this doesn’t have to be the case; you can hire a specialist accountant at a monthly fee to take care of these tasks. It is important to hire the right accountant if you’re hoping for a stress-free ride as a contractor, at least in the financial department. You don’t want to work with an accountant with poor communication skills, or worse still below par accounting skills. So how can you tell who the best contractor accountants are? The following tips should be of help: Find a genuine specialist
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Make sure the accountant you choose specializes in contractor affairs and understands why it’s important to comply with the IR35. You may want to avoid high street accountants, as most of them don’t possess this knowledge, even though they may be cheaper to hire.
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Standing A good accountancy firm gets more word-of-mouth referrals thanks to the solid reputation they’ve built over time. Ask other contractors about the firms they’ve used in the past, and their overall experience with them. If you don’t know any contractor, doing some online research will go a long way. Check out their reviews on respected comparison sites to get a feel of what they can offer you. Not all reviews are always genuine, however, so you may need to visit a few site. Cost Certainly, the cost of enlisting an accountant’s services can be an important factor in your decision. Bear in mind that paying more will not guarantee you excellent services. On the other hand, choosing the cheapest services you can find can turn out costly in the end. Of greater importance is how comfortable you feel working with the accountant. You must trust them to be able to handle your tax issues competently. For this reason, don’t give price too much weight in your hiring decision. Tech We’re no longer in that era when contractors would send their accountant an envelope of paperwork for “processing.” Presently, the internet has made things so much more convenient for both parties. Not all contractor accountants have embraced the newest technologies fully though. Some, despite claims of running an online accounting system, will request you to upload spreadsheet files via their web interface. The companies that really use the latest technology offer their services fully online–you may view/update your accounts in real time. The software they use may be different, but it doesn’t really matter so long as it’s user-friendly and efficient. Before signing up with a firm, be sure to ask for an online demo so you know exactly what to expect.