Not all Contractor Accountant services are the same.
Regardless of whether you’re new to the contracting game or have already been playing awhile, at some point you’ll probably have considered enlisting the services of a contractor accountant.
But which services should you be looking for and is it really true you get what you pay for?
Service vs price – delve a little deeper into what you’re really getting
When shopping around you may initially be attracted by price, and it’s tempting to go for the cheapest option. Whilst this can be appealing, (especially if you’re first starting out) it’s worth considering how much bang you’re really getting for your buck.
Afterall, a cheap service will soon lose its sparkle if you discover it doesn’t provide all the things you actually need. There’s a reason why some contractor accountants charge more than others, and it’s all down to what’s included and the level of service you can expect.
Are the essentials included?
Consider the services you really need – both personally and professionally. There are some basics every accountant should provide, and we advise that you ask each whether they’re included as standard within their monthly price or at an extra cost. These include:
- Unlimited expert advice and support from a dedicated Personal Accountant (not an account manager or call centre)
- Immediate access 24/7 to a cloud-based portal for day to day tasks
- Unlimited IR35 advice including risk assessment & a fee protection service
- Management and yearend accounts including quarterly VAT returns
- Calculation of company’s tax liability and personalised tax health checks
- Monthly & annual payroll returns (2 people)
- One simple Self Assessment Tax Return; dividend advice and paperwork, plus filing all HMRC and Companies House returns
- Use of their office address as your official registered office address
Your accountant managing your accounts vs you managing your accountant
Your contractor accountant should be a qualified expert who can keep your accounts in check, be there to remind you when things need to be done, but also make you aware of any opportunities for better tax efficiency and optimising your contractor take home pay.
Sounds simple? Sadly not for every accountant! Having a direct line to your own personal accountant is not a given, and you could find yourself being passed from pillar to post through a call centre, or end up in the hands of an unqualified account manager.
Not ideal when it’s your business and personal finances you need instant advice and support about. You should always feel safe in the knowledge they’re ready to talk to you, whenever you need them, and never feel like you’re having to manage them.
The Intouch Promise – No hidden chargeable extras – just a fixed monthly fee
Here at Intouch we provide all of the above, plus much more! From speaking to your own dedicated Personal Accountant from the outset to being transparent about what’s included in our monthly service for £105+VAT, we pride ourselves on informing all potential clients exactly what they can expect with us from day one – so nasty surprises! That’s part of the Intouch Promise.
Our team of experts are ready to answer any questions you may have about our service and how we can help you achieve your contracting goals. Call them today on 01202 375 562, or live chat / email them here.
This blog has been prepared by Intouch Accounting. While we have made every attempt to ensure that the information contained in this blog has been obtained from reliable sources, Intouch is not responsible for any errors or omissions, or for the results obtained from the use of this information. This blog should not be used as a substitute for consultation with professional accounting advisers. If you have any specific queries, please contact Intouch Accounting.