FreeAgent + the free Starling account is a perfect combination IMO.
If you ever open a second account with another bank (e.g. for savings or foreign currencies, or because you hit the FSCS limit) how would the Starling package handle that?
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Starling Bank questions
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Originally posted by Pampa View PostI'm new to the contracting world
In terms of software, take your pick, based on what your accountant is comfortable working with. Personally, I think FreeAgent is excellent, so I wouldn't look elsewhere.
Nothing to do, imho.Leave a comment:
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It's £7 a month. For the same on line bank account from Nat West, called Mettle, it costs nothing and you get FreeAgent thrown in. Can't get a lot cheaper than nothing, can you? I am unaware of anything that Starling does that isn't matched by Mettle/Freeagent, perhaps there is something? But FreeAgent has the huge bonus of being very widely supported and thus portable.Leave a comment:
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You haven't said how long you've been a contractor, but I'm assuming not very long. Sorry if that is incorrect, but if it isn't, a couple of points to consider:
1. Good accountants don't cost money.
2. Are you capable of managing the various arcane questions asked at year end on your CT return
3. Are you fully on top of payroll management and tax accountancy. FreeAgent is good but not infallible
4. How will will you manage HMRC igf a query is raised on anything?
5. You will probably need an accountant for your year end anyway. How would their one-off charge compare to a year's fees from a retained accountant?
Running before you can walk is probably unwise. At least wait until you've done the whole annual cycle before you try.Leave a comment:
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Starling Bank questions
Hi everyone,
I'm new to the contracting world after spending all my career as a PAYE and I've had a brilliant service using Maslins to help me get all setup as LTD company and put up with a few questions.
Whilst I'm happy with the service I'm always open to cutting costs wherever possible, I'm not yet ready to make the leap to sort things out myself but Starling's new service looks like it should pretty much do everything I need it to.
I searched the forum and used the old Google site search tip to see if it's been posted about before but I couldn't find any posts on it.
The service from Starling is Small business accounting toolkit - Starling Bank and it seems to do everything FreeAgent does and also connect to HMRC for filing. I'm already signed up to their business account and this service does look attractive to me, especially for the price.
So, a couple of questions, has anybody signed up to it? Is there an idiot's guide to follow which covers everything I need to consider if I were to cease services with my accountant and go it alone?
Cheers ??
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