As a busy Limited Company contractor who enlists the services of an accountant, you expect them to look after all your tax and 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 accountant, this blog gives you the top five tell-tale signs your accountant should become a thing of your past.
- They’re 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 you’ll only ever speak to your dedicated Personal Accountant.
- 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 accounts, then it’s time to find an accountant who will put your needs first.
“I’d be given 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 Personal 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? 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 an 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 accountants are already having conversations about IR35’s changes with their clients. Contract and working practice reviews come as standard in our all-inclusive monthly service and our accountants are always on hand for advice and support when required.
- They get the basics wrong
There a number of basic services which every accountancy 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 accountant.
“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 Intouch Personal 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 service, you should be expecting for all statutory returns to be included, but the real difference is the extra support.
With the impending IR35 changes, contract reviews should be included as standard, along with direct advice from an accountant, 24/7 access to an online portal and insight for planning purposes is a must.
Why should you consider Intouch as your new contractor accountant?
We’re proud to offer our award-winning service with everything you need to contractor stress-free from a tax and accounting point of view. Our all-inclusive service is exactly that, and we never charge extra for those services you need to contract confidently.
How to switch to Intouch 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 services and how easy it is to join Intouch Accounting, or download our full guide on switching accountants for a more in depth look into why you should switch and how easy we can make it.