Looking for an accountant with a full range of services

[houmie]

Dear all,

Two years ago I left my perm job to become a contractor and due the big crash short after I lost my contracts before even making any penny. Stupid enough I had registered an Ltd too.

Two years later I am ready once more to start my own (new) company and start the dream of contracting. Only this time I was more experienced; I made sure to have the contracts before starting an Ltd.

I used two years ago for the initial company setup and VAT registration SJD and they were quite efficient at doing it. But I have no further experience with them.

A friend of mine has also recommended Nixon Williams which seem to have cheaper rates than SJD, but since he is new himself he hasn't really seen them in the end year action.

Another friend has recommended Principal Accounting to me, which seems to be more expensive than Nixon Williams but cheaper than SJD. Plus they are local but unsure about their experience.

What I am looking for:
Generally since I am very new to this, I need someone holding my hands on this. I have very little experience on taxes and would be great if I was reminded if there is something needed from me, especially when I am close to the due date so that I can focus on business.

Also great would be if the accountant would advice me on how to save more money and how to do my expenses in my favor etc.

What are your experiences on these firms?

Looking forward for some advice,
Kind Regards,


CUK Admin says: Full directory of contractor accountants here

[malvolio]

... snip ...
What are your experiences on these firms?

Looking forward for some advice,
Kind Regards,

Quite variable. Try using the search function and see what people have been saying. Although you'll probably be no better off since the spectrum is too wide.

The other issue is that accountants only offer advice, usually in response to specific questions. It's up to you what you do with it, so if you don't have a reasonable grounding in the subject it isn't actually that much help. So my own opinion, for what it's worth, is to pick one of the big ones (SJD, NW, InTouch and the like) for the first year - ideally one that has the PCG Accredited Accountant badge since t hey will really understand the freelance model - and see how you get on. You can always change after a year if you think it worthwhile, and you know the big guys ain't going to screw up.

Others will disagree...

Incidentally you don't do "expenses in your favour". If expenses earn you money or save you tax, you're doing it wrong (Actually, your evading tax, which is illegal). They are there to refund business costs paid from your earned income.

[northernladuk]

I am with SJD and very happy with them. I had a small one man band accountant before who wasn't a specialist in contractor finances and was useless so would recommend a specialist.

SJD send regular bulletins about home broadband, phone use, claiming for home use etc. Most of it is covered in general documentation about expenses and can be found in any reasonable document about it (and comments on here) it was nice to see they bothered.

If you want an accountant who is going to look at your spreadsheet and treat you as an individual in their advice I think you are going to be sadly disappointed. They are often reactive or have a sledgehammer approach with generic communication.

Even if you have an accountant I would say the responsibility stays with you to find out what is allowable and not. Doesn't take much research as there is plenty out there.

Keep an eye on here though, nearly everything I can think of (and many I never would have throught of) is discussed regularly on here.

[SueEllen]

Even if you have an accountant I would say the responsibility stays with you to find out what is allowable and not. Doesn't take much research as there is plenty out there.

Keep an eye on here though, nearly everything I can think of (and many I never would have throught of) is discussed regularly on here.

WHS

The accountant is just a professional advisor for your business they are not your company's financial director.

It's therefore up to you to do some research covering the tax laws (which are complex) by using this site, other sites including the HMRC guides and then asking your accountant the right question.

Also don't get upset if your accountant can't give you a "Yes" or "No" answer as some things can't be answered like that.

BTW it seems Principal Accountants specialises in Dentists. I would be looking for one that specialises in groups of people who work in a similar way to IT contractors i.e. Engineering

[Steven@Parasol]

I work for one so I am bias but....

It is always worth speaking to a few specialist contractor accountants before you make your decision.

Some good independent guides and info here

Limited Company Contractor Guides - Set Up a Company

Costs will vary so the important thing is to work out exactly what level of support you need and compare like for like.

And if you aren't happy at any point, you can always leave.

[houmie]

I work for one so I am bias but....

It is always worth speaking to a few specialist contractor accountants before you make your decision.

Some good independent guides and info here

Limited Company Contractor Guides - Set Up a Company

Costs will vary so the important thing is to work out exactly what level of support you need and compare like for like.

And if you aren't happy at any point, you can always leave.

Thanks, but it seems your link doesn't work. Can you resend it please?

Regards,

[RobertStell]

Accountants....gawd bless 'em all

Here are my thoughts on this thorny topic...and I'm guessing here, but am I allowed to say that I am one?

-I suggest that you make sure that they're a fully qualified firm with the approriate practicing certificate...because if they're not and things go pear shaped, you may be left high and dry
-also suggest that the firm chosen should have at least ten other contractors on their books
-costs should be approximately £1k per annum all in
-costs should be fixed in advance

All firms will say that they're pro-active.....but the definition of that varies widely. They should at least be extremely re-active.....and by that I mean all email/phone calls to be replied to within half a day.

is that enough info.?

Robert

Dear all,

Two years ago I left my perm job to become a contractor and due the big crash short after I lost my contracts before even making any penny. Stupid enough I had registered an Ltd too.

Two years later I am ready once more to start my own (new) company and start the dream of contracting. Only this time I was more experienced; I made sure to have the contracts before starting an Ltd.

I used two years ago for the initial company setup and VAT registration SJD and they were quite efficient at doing it. But I have no further experience with them.

A friend of mine has also recommended Nixon Williams which seem to have cheaper rates than SJD, but since he is new himself he hasn't really seen them in the end year action.

Another friend has recommended Principal Accounting to me, which seems to be more expensive than Nixon Williams but cheaper than SJD. Plus they are local but unsure about their experience.

What I am looking for:
Generally since I am very new to this, I need someone holding my hands on this. I have very little experience on taxes and would be great if I was reminded if there is something needed from me, especially when I am close to the due date so that I can focus on business.

Also great would be if the accountant would advice me on how to save more money and how to do my expenses in my favor etc.

What are your experiences on these firms?

Looking forward for some advice,
Kind Regards,

[SueEllen]

Here are my thoughts on this thorny topic...and I'm guessing here, but am I allowed to say that I am one?

-I suggest that you make sure that they're a fully qualified firm with the approriate practicing certificate...because if they're not and things go pear shaped, you may be left high and dry
-also suggest that the firm chosen should have at least ten other contractors on their books
-costs should be approximately £1k per annum all in
-costs should be fixed in advance

All firms will say that they're pro-active.....but the definition of that varies widely. They should at least be extremely re-active.....and by that I mean all email/phone calls to be replied to within half a day.

is that enough info.?

Robert

PCG Accredited Accountant fall in those categories.