As a busy Limited Company contractor who enlists the services of an accountant, you expect them to look after all your tax and contractor accounting needs, so what happens when they’re no longer doing their job and start letting you down?
If you’ve got an itch to switch accountants, this blog gives you the top five tell-tale signs your accounting company should become a thing of your past.
- Your accountant really tough to get hold of
If you’re forever being put on hold, passed from pillar to post, or have to wait days for a response to the simplest questions, then it’s time to look elsewhere.
Many contractor accounting firms use account managers or admin staff in an attempt to cut costs. This means your questions will need to be passed to an accountant, only leading to the delay in getting an answer.
“I was forever having to explain who I was, repeat why I was calling and what I wanted, and then wait days for a reply. Sometimes I’d get the wrong answers back and have to start the process all over again!”
Here at Intouch Accounting, you’ll only ever speak to your dedicated freelancer accountant.
- Accounting advice is generic and never tailored to your specific needs
Whilst the annual HMRC and Company’s House returns are standard, all contractor needs are certainly not! Your accountant’s job is to ensure you run your Limited Company in the most tax-efficient way, be that through advising you on combining dividends with salary, or what VAT treatment to opt for.
If you’re increasingly getting the feeling that a ‘one size fits all’ approach is being applied to your company accounts, then it’s time to find a contractor accountant who will put your needs first.
“I’d be given accountancy advice that had little to do with my personal circumstances. I found that rather than helping it confused me further, and made me question what advice was really specifically for me”.
Your Intouch Limited Company Accountant takes the time to get to know you and find out your personal and professional goals. Everything they do will be to help you achieve those goals.
- Important legislation changes just pass you by…
Contractors shouldn’t be expected to understand technical legislation changes, that is, after all, what you pay your accountant for!
For example, what is your accountant doing to prepare you for the impending changes to IR35 regulations? Do they actively invite you to ask questions and discuss any concerns you may have? Are they taking steps to ensure you’ll be looked after when the reform is rolled out, and have your peace of mind that they’re keeping you in the loop?
April 2020 will see all contractors, both in the private and public sectors, having their IR35 status determined by the end hirer. An accountant with expertise in IR35 will be actively supporting you through this is a must-have for your survival and success as a contractor. You need a contractor accountant who reviews your working practices and contracts to ensure you remain compliant but also can provide you with all the required evidence for your end client if needed.
Our leading freelancer accountants are already having conversations about IR35 legislation changes with their clients. Contract and working practice reviews come as standard in our all-inclusive fixed-fee accounting service and our contractor accountants are always on hand for accountancy advice and support when required.
- Your accountancy firm gets the basics wrong
There are a number of basic accounting services which every accountancy firm will provide, such as statutory returns, (which must be filled to HMRC and Companies House at specific deadlines throughout the year), otherwise, you’ll incur penalties. If you find yourself unsure of what to do and when, you only make deadlines in the nick of time, or miss deadlines altogether, then it’s time to switch accountants.
“As a newbie to Limited Company contracting, I wasn’t aware of my responsibilities, as my accountant never told me! As a result, I’d frequently miss important deadlines”.
Your dedicated Limited Company accountant will let you know when they require you to do something, so you’ll never have to worry about missing a deadline ever again.
- You feel ripped off
If you’re paying for an all-inclusive fixed-fee accounting service, you should be expecting all statutory returns to be included, but the real difference is the extra support.
With the impending IR35 legislation changes, contract reviews should be included as standard, along with direct accountancy advice from a dedicated accountant, 24/7 access to an online portal and insight for planning purposes is a must.
Why should you consider Intouch Accounting as your new contractor accountant?
We’re proud to offer our award-winning accountancy services with everything you need to contract stress-free from a tax and accounting point of view. Our fixed-fee accounting service is exactly that, and we never charge extra for those accountancy services you need to contract confidently.
How to switch to Intouch Accounting from your current accountant?
Simply get in touch and we’ll do the rest! We’ll get your accounting records form your current accountant, and tell HMRC and Companies House about the change.
Get in touch today to find out more about our freelancer accountancy services and how easy it is to join Intouch Accounting. Or you can download our full guide on switching accountants for a more in-depth look into why you should switch accountancy firms and how easy we can make it.
