Finding the best accountant for yourself can be confusing enough as it is. Finding the best contractor accountants for yourself can seem near impossible. This is especially tough when you have no idea what you are doing or where to begin. Almost all contractor accountants that you talk to will tell you the same thing. That they can double your profits and introduce hundreds of new clients to you. They will boldly display these claims over their website and adverts but they are just telling you what you want to hear. They will regularly make these promises but when the time comes to follow through they can immediately list a number of excuses of why they couldn’t do it. The story is always the same. They provide a generic excuse or simply shift the blame to someone else when the time. Whatever happens, they still have no problem collecting their fee from you. While everyone may seem like they’ve had at least one bad experience with their accountant, it doesn’t mean that you have to have one too. That is why we have put together some tips for you to consider when choosing the best contractor accountants for yourself.
How to choose the best Contractor accountants?
When looking for the best contractor accountants there are a number of mistakes that people of make that can greatly affect their experience. On common mistake that people make is to make the assumption that all accountants carry out the same work. For example it makes little sense work with an accountant who specialises in medium to large sized businesses if you are only just starting your business as a sole trader. Another aspect to consider is how involved you actually want to be in the filing of your accounts. For example if you are happy to just send in the relevant information and have someone organise and file them for you then a firm that specialises in just that would be better for you. However you may prefer a firm that has a dedicated accountant who personally works with you to save you as much money as possible.
What to consider when choosing contractor accountants
Even when you take these things into consideration, finding out who the best contractor accountants are is still a very difficult thing to do. The right accountants for contractors need to specialise in very different things from accountants that work with sole traders and companies. For example, do they have any experience in dealing with IR35? Do they work directly with contractors themselves or do they deal with the Umbrella companies? Do they simply claim to specifically be accountants for contractors or are they actually recognised and accredited as contractor accountants. Failure to consider or even acknowledge these things can not only cause you a massive headache in the future, but in some cases can prove to be disastrous. If you are a contractor and you fail to complete your IR35 in time, or forget to complete altogether, you will likely face hefty penalties from HMRC, and even prosecution! The fact of the matter is that certain contractor accountants specialise in certain things, that is why finding the best contractor accountants is critical to your success.
If you would like to learn more about finding the best contractor accountants or about how JW Tax Help can help you and your business then visit our homepage here for more information.