Accountant Recommendations

[dharmaBum]

Hi all,

I've just set up my own limited company and negotiated my first contract. Looking at the numbers it seems wise to become VAT registered based upon my estimated annual turnover. I'm looking for recommendations for a good accountant who is well versed with IR35 etc and can handle my day to day accounts and VAT related issues. I know this is probably easy enough to do yourself but I'll have enough on my plate initially and don't want to make any mistakes so I'm happy to pay someone to do it. My partner also may end up trading through the company if it's more tax-efficient as she currently works as a sole trader.

I'd prefer a local, more personal service rather than a faceless corporation. For starters, I'd like to be able to sit down face-to-face with them so they explain all the ins and outs as I'd like to understand how it all works. Hence, I'd like someone fairly local to where I live - ideally East London or City.

Hopefully you can help me out here - apologies if this has been covered many times before but I need to get moving quickly at the moment and don't want to spend hours ploughing through old threads!

[Underscore]

why bother

just go through a decent composite that is set up correctly to ensure you get 80%+

[4Contractors]

Re: why bother

DharmaBum

Unfortunately you are probably looking for a combination of services from an accountant that does not suit the best solution for your position as a contractor, your wives position as a sole trader and the money you will have to pay in fees.

The local specialist contractor accountants who would arrange a face to face meeting with you are unlikely to be much use for you wives business. The high street accountant who will happily look after your wives business and meet you face to face is unlikely to know enough about contractor issues and will likely charge you at least double the fee for an inferior service where you end up doing more work than you need. I spend less than half an hour per month in total on my accounts - as far as I'm concerned and from previous experience that is as good as it gets

My advice would be to employ a local high street accountant to look after your wives business. I think you will find that fees to look after a small sole trader business will be around half of those you will need to pay for your contractor limited company. As far as your business is concerned, I would question the need for face to face contact on a regular basis. I have found that most good contractor accountants are contactable by phone or email and will assist with any queries you may have. Our recommended accountant charges £50 + VAT per month, guaranteed for 2 years for a comprehensive service and will set up the limited company for you free of charge.

[dharmaBum]

Re: why bother

Aha - perhaps I should clarify a little. My (not wife yet!) girlfriend is a qualified barrister but is currently non-practicing. She does freelance legal consultancy work on a case by case basis. Effectively she is a legal consultant rather than a business/IT consultant like myself. Anyway - this is of less of a concern at the moment and more of a long term possibility. I am more worried with getting the basic stuff sorted out.

[malvolio]

Actually

As they keep reminding me, the ************ guys have a tie in to a good accountant that might just suit your needs - Nixon Williams in Chorley. No doubt they'll be along with the sales pitch in a minute or two!

Key things to watch immediately are IR35, S660 is you split divicends around the family and flt rate VAT schemes. Go nose around the PCG website at www.pcg.org.uk, there's some good data on there (and a lot more a bit further down if you join, I'm told)

[planetit]

Re: Actually

I use SJD (though I’ll get flack from ************ for mentioning them). They have offices around the country, but I’ve never felt the need to meet face to face. Whichever accountant you choose, talk to them before you sign up to get a feel for how they operate. In my experience you should reject any who say “just leave everything to us. You don’t need to understand how your business works”. I used to have an accountant with this attitude, and it didn’t work. If they ever make a mistake it is you who will have to sort it out. This is especially true if you think you may want to merge your wife’s business with yours (though remember you can always change your accountant in the future).

[rootsnall]

Re: Actually

I've used Nixon Williams over a number of years, always efficent and I'd recommend them but don't expect any flash creative accounting, its very much by the book. On IR35 you either get them to prepare your accounts as inside IR35 or outside IR35, your choice. I wouldn't go on what a single accountant advises, I think you will get a better picture of IR35 by readng through posts on here and other websites and making a judgement for yourself.

[4Contractors]

Re: Actually

No doubt they'll be along with the sales pitch in a minute or two!

You are observant today Malvolio - sales pitch appeared 2 posts before yours

Planetit - nothing wrong with the service offered by SJD and I was going to join them myself when their fee was £50 a month, not so long ago - I know that they now charge 60% more for their services than our recommended accountant who provides a similarly good service. It is also true to say that there are other accountants who charge the same as SJD or more and fail to provide the same high quality of service.

£50 a month for a comprehensive accountancy service with an excellent reputation is apparently very difficult to beat, eh Planetit and Malvolio

[malvolio]

Re: Actually

You are observant today Malvolio - sales pitch appeared 2 posts before yours

Damn - and there's me trying to be helpful...