Too good to be true? Contractor Accountants?

[northernladuk]

Use them based on what? Are you 100% sure this family member knows his stuff and isn't going to be another problem?

Personally I'd steer away from anything to do with family and go get my own accountant based on factors I've investigated, understand and am happy with. I've a feeling you aren't that bothered about understanding the details though.

[cojak]

Thanks for all the advice guys, turns out someone in my family is a SAP contractor and has been using an accountant for a while. I am just going to use them.


Thanks a lot for the help.

Good luck !

[aj4u]

Thanks for all the advice guys, turns out someone in my family is a SAP contractor and has been using an accountant for a while. I am just going to use them.


Thanks a lot for the help.

[Michael at BI Accountancy]

"HMRC Compliance Guarantee"

Makes a change from the 100% HMRC approved schemes.

We have calls off these types of companies daily asking to refer our clients. After going into detail on how they work all I can say is..Stay well clear!

[Jessica@WhiteFieldTax]

Some good advice here.

I would also suggest looking at the fees being charged. I was looking at some competitor web sites last night as it happened, and there are an awful of fee offerings out there which to me don't look sustainable, and would suggest that corners must be being cut or the service is being given away (NB, none of these are regular posters on this forum).

Thirty years doing accounts, I've got a reasonably sharp eye for both getting rid of excess cost, but also being aware of the realistic price of providing an acceptable service level.

[DaveB]

Hey Guys,

I just accepted my first contract offer today

Just trying to work out what is the best tax efficient accountant I should go for...

anyone had any dealings with

greatpay.co.uk
contractingwise.co.uk
W ww.payecompare.com/contractors.html payecompare.com - retain Up To 85% Of Income After Tax, NI and Fees...

etc

Thanks Arjun

Take a look here for more information on what reputable umbrella companies will do for you and what the dis-reputable ones will try and get away with.

All Umbrella Companies Are Equal - Straight Talking Umbrella Companies

[Alan @ BroomeAffinity]

I had a guy come to me who was with one of the "umbrellas but not actually an umbrella" who was convinced he was in an ordinary umbrella because the provider and the recruitment agency told him it was kosher. 2 years down the line he's staring down the barrel of a £35k tax enquiry and no means to pay. And the way provider - who received c£25k in fees over the piece is nowhere to be seen. To the OP you've done the right thing by coming on here. Now you know it's a limited company you're after, not some fly by night umbrella scheme.

[bluetoaster]

As per everyone above. A basic rule of thumb for tax evasion schemes is that if it sounds too good to be true, it probably is.

Check out the HMRC site

[cojak]

Don't be fooled by imposter umbrellas

[Darren at Fox-Bartfield]

Accountants

There's a recommended accountants thread on here, read that and choose one. Tip: Go with a Freeagent based accountant, you'll thank us for it

You don't want to be posting in HMRC Scheme Enquiries in a few months/years.

Agree with the rest of the guys, check out the sticky at the top of the forum and when someone promises the world, it's more likely to be too good to be true.

Look for compliant as well as tax efficiency, ring a couple and see which you prefer. One that provides Freeagent is the way to go.

[adubya]

There's a recommended accountants thread on here, read that and choose one. Tip: Go with a Freeagent based accountant, you'll thank us for it

You don't want to be posting in HMRC Scheme Enquiries in a few months/years.

[northernladuk]

In general make sure you read the newbie guides to the right and have the contract checked by a specialist.

[northernladuk]

Never heard of them but anyone offering you anything more tha a LYD company then run a mile and then some more.

Get a proper contractor accountant that uses free agent and avoid anything with a scheme or offers schemes that look too good to be true.

There is an accountant recommendation sticky and a list of accountants somewhere else in this site.

[aj4u]

Hey Guys,

I just accepted my first contract offer today

Just trying to work out what is the best tax efficient accountant I should go for...

anyone had any dealings with

greatpay.co.uk
contractingwise.co.uk
W ww.payecompare.com ]PayeCompare.com - retain Up To 85% Of Income After Tax, NI and Fees...

etc

Thanks Arjun