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How Soon To Engage An Accountant?

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    How Soon To Engage An Accountant?

    I'm currently permie, going contract next month. I've set up a company, purchased the necessary insurance and got a business bank accountant. I don't want to handle the accountants day-to-day, so I need to get an accountant. Probably an online-only FreeAgent accountant like Gorilla or Dolan.

    I'll be billing monthly, so no invoice submitted until the end of April, payable in May. How soon is it worth engaging an accountant? It feels like I'd be throwing away the best part of £100 by engaging one now compared to doing the same this time next month. If I do that, will I look back and regret it?

    #2
    Ask them to do it for free. I imagine they probably will if you say "I might go with XYZ as they do it for free."

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      #3
      I'd say it would be fair to start engaging one next month when you start contracting. Like you say, it seems a bit of a waste to engage one now and pay for a month's fee when you're not using the company. April would be reasonable.

      I'd suggest perhaps look for an accountant now, get the terms of engagement set up and agree when the service will start. That way it's all done and you can relax.

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        #4
        When you have the initial chat, if you say that you're not contracting yet, most accountants can go through the sign up process; help with any remaining items such as registering for VAT and PAYE schemes, then defer the monthly fee until you are trading.

        So, I'd suggest towards the end of month beforehand is usually a good time so the schemes can be done in the meantime
        We're all ears!

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