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So you’ve found your first contract and formed your limited company, what next? Well, you may want to consider appointing an accountant.
Whether you are new to contracting or an experienced contractor looking to switch accountants finding the right accountant can save you time, money and a whole lot of headaches, so it is well worth taking the time to get it right.
You could just go to a standard high street accountant, who will typically charge a fixed fee for completing your yearend accounts. However, you may have questions throughout the year – especially if you are new to contracting – such as “can I expense my phone bill?” and “how much can I take out of my company without incurring further tax?” High street accountants will typically charge additional fees each time you contact them.
As an alternative to standard high street accountancy firms you could opt for a fixed fee accountancy package, which will provide ongoing support. The benefit of this option is that they will handle your tax affairs throughout the year, are on hand to answer questions when needed and the accountancy fees are spread out over the year.
Not all accountancy firms are the same so it is worth doing your homework. Below are some of the factors that you may want to consider when choosing your accountant.
The right accountant will not only provide valuable tax saving advice but give you peace of mind that your limited company is being administered in the correct way. Figures and accounts are not everyone’s forte so see below for more of the ways that an accountant can help you.
Nixon Williams are one of the UK’s leading accountancy firms specialising in the contractor market. Our fixed fee accountancy packages are tailored to the needs of contractors, consultants, freelancers and locums and includes unlimited access to your own dedicated Account Controller. We believe that our clients have more important things to be doing than pouring over accounts and VAT returns. Investing in bespoke online accounting systems has allowed us to handle our client’s accounts securely and efficiently without compromising on service.
Our all-inclusive, fixed fee, starts from just £95 a month and includes: