Reply to: Get Accountant now or later

[Jeremiah@RHJAccountants]

Any firm that doesn't give a prospect priority should be ignored imo. Whether its SA deadline week or not, new clients are the lifeblood. And, I'd question why they are so busy during deadline week when they have had 9 months to get the returns completed.

I could not agree more but i have clients tell me that they call up a accountancy firm and are told they are not taking on new clients or that they will be called back and then never hear anything back.

It will always be busy come SA deadline as some clients bring there information in late for whatever reason!

[Nixon Williams]

Any firm that doesn't give a prospect priority should be ignored imo. Whether its SA deadline week or not, new clients are the lifeblood. And, I'd question why they are so busy during deadline week when they have had 9 months to get the returns completed.

Agree 100%

We would always recommend getting your accountant involved BEFORE you set the company up, some will even do it for free.

Some of the sticky situations we have seen from new clients who form their company by themselves include:

• 10 million, £1 shares issued
• Registering as 'self-employed' with HMRC
• Registering for VAT in their own name, rather than the company

Alan

[Clare@InTouch]

Any firm that doesn't give a prospect priority should be ignored imo. Whether its SA deadline week or not, new clients are the lifeblood. And, I'd question why they are so busy during deadline week when they have had 9 months to get the returns completed.

Because I'm sure we all have clients who send back their information in January no matter how many times you chase them for the preceding 9 months!

[Alan @ BroomeAffinity]

I would talk to a few firms and see which offers the best service for you, but be aware it is self assessment deadline this week so some firms will be very busy with that so you may not be top priority.

Good luck

Any firm that doesn't give a prospect priority should be ignored imo. Whether its SA deadline week or not, new clients are the lifeblood. And, I'd question why they are so busy during deadline week when they have had 9 months to get the returns completed.

[Jeremiah@RHJAccountants]

We have a separate formation team here at SJD Accountancy, that way ensuring all new clients are priority and don't get affected by busy times.

I was not mentioning any names of any firms just pointing out that some firms do get affected by the busy periods.

We are the same at Smith Craven in that we have a separate formation team for new clients.

[Danielsjdaccountancy]

I would talk to a few firms and see which offers the best service for you, but be aware it is self assessment deadline this week so some firms will be very busy with that so you may not be top priority.

Good luck

We have a separate formation team here at SJD Accountancy, that way ensuring all new clients are priority and don't get affected by busy times.

[Jeremiah@RHJAccountants]

OK, thanks everyone.

Playing safe is probably the best move, I'm going to kick things off now.

I would talk to a few firms and see which offers the best service for you, but be aware it is self assessment deadline this week so some firms will be very busy with that so you may not be top priority.

Good luck

[Danielsjdaccountancy]

Just seen your post Dan.

I'm thinking I might just bite the bullet and get the ball rolling.

I don't want to sound biased, but if you want to sort the worry out before you contract then yes, this would be a wise decision.

If you know that your company is set up, bank account and VAT in place, it’s only going to make your contracting experience more pleasant.

[GeorgeB]

OK, thanks everyone.

Playing safe is probably the best move, I'm going to kick things off now.

[Jeremiah@RHJAccountants]

You need to have the Ltd setup ie have a certificate or incorporation before the bank will start the account setup for you.

Agreed i was about to echo those same comments make sure the Ltd is set up before bank account and registration process with HMRC for VAT, PAYE etc.

[Bumfluff]

Many thanks for your very quick responses

I could create the bank account now, and then appoint the accountant at the time of offer. I'm assuming no bank account = no invoicing, so this is one thing which should be sorted quickly!

Does this sound like a good idea?

Thanks,

You need to have the Ltd setup ie have a certificate or incorporation before the bank will start the account setup for you.

[GeorgeB]

I guess it really depends on how much company paperwork you want to deal with whilst working on your contract?

In my experience most clients like to get the company setup, bank account opened and VAT registered before they start the contract.

That way they can

a) Not worry about it on their first day of working
b) Commence the contract as they have bank details available for the agency/end client (I have seen clients miss out on contracts due to not having this available)
c) Invoice at the end of the month as they have account details ready to be paid into, plus they won't need to worry about any VAT only invoices at a later date. (I have seen many clients miss the invoice run due to not having a bank account in place and then have to wait another month to be paid)

There is a lot of stress at the start of a contract so why add the stress of setting the company up properly.

If I was contracting I would allow 6 to 4 weeks to get everything in place ready to contract.

I imagine people would disagree with me, but I am comparing people who set the company up early to those who do it the Friday before they start on the Monday.

Note I am not even talking about appointing the accountant; simply get the formation process completed.

Just seen your post Dan.

I'm thinking I might just bite the bullet and get the ball rolling.

[GeorgeB]

Many thanks for your very quick responses

I could create the bank account now, and then appoint the accountant at the time of offer. I'm assuming no bank account = no invoicing, so this is one thing which should be sorted quickly!

Does this sound like a good idea?

Thanks,

[Danielsjdaccountancy]

I guess it really depends on how much company paperwork you want to deal with whilst working on your contract?

In my experience most clients like to get the company setup, bank account opened and VAT registered before they start the contract.

That way they can

a) Not worry about it on their first day of working
b) Commence the contract as they have bank details available for the agency/end client (I have seen clients miss out on contracts due to not having this available)
c) Invoice at the end of the month as they have account details ready to be paid into, plus they won't need to worry about any VAT only invoices at a later date. (I have seen many clients miss the invoice run due to not having a bank account in place and then have to wait another month to be paid)

There is a lot of stress at the start of a contract so why add the stress of setting the company up properly.

If I was contracting I would allow 6 to 4 weeks to get everything in place ready to contract.

I imagine people would disagree with me, but I am comparing people who set the company up early to those who do it the Friday before they start on the Monday.

Note I am not even talking about appointing the accountant; simply get the formation process completed.

[Jeremiah@RHJAccountants]

Hi,

General setup question...

How long does it take to get set up with an accountant for the first time?

I'm available and actively looking for a contract now, but should I wait till i get offered a contract then set up accountant, limited etc or is it best to do it straight away?

I'm thinking, if I don't find a contract in the next month then I'll incur another month of charges without money coming in.

Many thanks,
George.

Generally speaking having a contract in place is a good start

However if you do have an accountant from the start at least they can help with the set up of your limited company and offer other specialist advice with regards to PAYE,VAT and FRS etc.

It should not take long to set up with an accountant we can register clients same day at Smith Craven Charterted Accountants and send out the formal documents like Engagement letter etc.

Again to set up a limited most accountants should be able to do this same day or 1 day max.

Good luck and i hope you get your first contract very soon