Can you recommend an accountant?

[captainham]

Yes im thinking of using Intouch.

However, I am naive in thinking they will do 'everything' for me. I guess as im new to contracting I dont want to be running my own ledgers, particulary if im paying someone to do this.

Depending on your type of business, the book-keeping really doesn't need to be a big task. If you're the typical 'one client-contractor', as I am, then even with staying in a hotel most weeks, I'm looking at 30 mins a month to plug my purchase receipts into a 'purchase ledger' (or to give it a less scary-sounding name, a basic Excel spreadsheet) and scan them in to save a digital copy for posterity, and my 2 monthly invoices take all of 5 minutes to type up and register.

Even if my accountant offered to do this for me, I would still do it myself anyway, because as NLUK says, it's my business and my money, so not only do I want to see how it is all progressing (for example, how much money in the account is actually 'mine', once VAT and Corporation Tax are taken out of the equation), I also want to understand how it all works (within the confines of my limited intelligence, of course ).

You can knock up a spreadsheet yourself in no time, although I'm a big fan of the Excel package from DIYAccounting (that's the second time I've mentioned that recently, sorry to everyone else, I don't mean to bang on about it!) which I prefer to the online options (such as FreeAgent, etc), because I can follow the formulas through the different spreadsheets which gives me a better understanding of how it all hangs together and means I can plan better.

The online portal (or whatever the communication process is) for the accountant is also important to me; I didn't want to have to upload each and every receipt every month, and itemise each one in their system, as this would be a duplication of effort for me, so again this comes down to talking to each firm and asking how they expect you to work.


But as said previously, everyone is different and some people want to hand the whole lot off, book-keeping and all, so ultimately it comes down to what you are looking for.

My basic point, after that long-winded route, is that the book-keeping is not something you need to be scared off, and IMO will only help you understand your business better.

[psychocandy]

Initially, I started out with a local accountant who was PCG approved. Disaster that was.

The guy knew absolutely nothing about contracting. No idea whatsoever. That lasted about 2 months.
In that time though they managed to cock up quite a few things.

So I moved to Nixon Williams. Not the cheapest. But, far and away the best accountant I've had ever. and no I don't work for them and not on commission.

I don't understand why some people don't like them because they've been nothing short of excellent for me.

[Danielsjdaccountancy]

Hi all

Am new to contracting and am in the process of setting up my company.

Can anyone out there recommend a decent accountant - good service, good advice and well priced - all the important criteria!

Thanks for your help.

I would shop around, see what suits you best and your preferred style of working, spreadsheets/online/face to face/email/phone etc and then decide from there.

You need to make sure the firm suits your needs, not theirs.

[Jessica@WhiteFieldTax]

Initially, I started out with a local accountant who was PCG approved. Disaster that was.

Sums up, I'm afraid, my thoughts on the PGC accreditation scheme. Its box ticking really. Reputation is a better tool

[psychocandy]

Yes, and not having a go at the PCG of which I'm a fan, but they weren't really interested in any feedback I had about one their listed accountants.

If there was something specific where the accountant was negligent they wanted to know, but for general uselessness they didnt want to know.

[THEPUMA]

Sums up, I'm afraid, my thoughts on the PGC accreditation scheme. Its box ticking really. Reputation is a better tool

It certainly wasn't a box ticking exercise when we went through the training. There was an initial two day training session. All applicants then had to submit an IR35 contract review and a 2,500 word dissertation. There has then been an annual update course.

What makes you think it is a box ticking exercise? Have you been through the accreditation process? It may have been made less onerous since we went through it.

[northernladuk]

Yes, and not having a go at the PCG of which I'm a fan, but they weren't really interested in any feedback I had about one their listed accountants.

If there was something specific where the accountant was negligent they wanted to know, but for general uselessness they didnt want to know.

And now you have a good one you don't want to seem to ask them anything anyway.

[malvolio]

It certainly wasn't a box ticking exercise when we went through the training. There was an initial two day training session. All applicants then had to submit an IR35 contract review and a 2,500 word dissertation. There has then been an annual update course.

What makes you think it is a box ticking exercise? Have you been through the accreditation process? It may have been made less onerous since we went through it.

The other point is that the Accrediatation is to do with their knowldge of IR35 and related matters and getting the best protection for their members which, whan all's said and done, is primarily what the PCG is about. It's nothing to do with their general capabilities as an accountant and PCG isn't in a position to measure that anyway.

And no, it is no less onerous now.

[Jessica@WhiteFieldTax]

It certainly wasn't a box ticking exercise when we went through the training. There was an initial two day training session. All applicants then had to submit an IR35 contract review and a 2,500 word dissertation. There has then been an annual update course.

What makes you think it is a box ticking exercise? Have you been through the accreditation process? It may have been made less onerous since we went through it.

Yes, thats my concern - as far as I can tell its narrowly focused on IR35 and the PCG/AccountTax way of doing things, and not a real assessment of broader competence / practice management? And for that matter nor should it be, as thats the role of the CCAB bodies.

I've a lot of time for both Accountax and PCG, and will happily send clients their way, but I feel the accreditation scheme lacks commercial focus and credibility. Its trying to duplicate, in a bad way, professional qualifications and oversight, and really ends up looking like a money making scheme for its promoters.

Incidentally, Puma, I'm not trying to Diss you or anyone else who has done the accreditation. Its PCG/Accountax I take issue with promoting it.

YMMVAIRT

[THEPUMA]

Yes, thats my concern - as far as I can tell its narrowly focused on IR35 and the PCG/AccountTax way of doing things, and not a real assessment of broader competence / practice management? And for that matter nor should it be, as thats the role of the CCAB bodies.

I've a lot of time for both Accountax and PCG, and will happily send clients their way, but I feel the accreditation scheme lacks commercial focus and credibility. Its trying to duplicate, in a bad way, professional qualifications and oversight, and really ends up looking like a money making scheme for its promoters.

Incidentally, Puma, I'm not trying to Diss you or anyone else who has done the accreditation. Its PCG/Accountax I take issue with promoting it.

YMMVAIRT

I think the issue PCG had was that they were getting a lot of enquiries from their members asking for recommendations of accountants specialising in freelancers. They felt unable to do this without having done some due diligence beforehand so that was why the accredited scheme was created.

In terms of it being a money making scheme, I don't see that at all. I think the fee is only something like £500 per year and within that we receive a day's training for 3 people from Accountax, who I think are probably the best in the business.

I think they could charge a lot more than that for the training alone, which I find to be invaluable. You can follow all the IR35 cases through the courts but it would be very difficult, outside of this training, to get the insight that we get from discussing them with the people who have actually defended the cases in court.

My original response to your post was just to challenge your suggestion that it was just a box-ticking exercise, which I think is unfair. It is much more valuable than that, both to the accountants participating and for peace of mind for the freelancer that their accountant has at least undertaken a reasonable level of training on contractor-specific issues.

I guess the only change I would personally make would be to make it an individual qualification rather than a corporate one as a firm can say that they are accredited but the individual you are dealing with may not be.