You've decided that contracting appeals to you for your next career move; you will join the ever-growing independent professionals workforce of over 1.88 million. By choosing the limited company route, you open yourself up to the most tax efficient way to legally maximise your pay. Still thinking how to choose the right contractor accountant?
In doing so you need to consider how you plan to run your business and make it a success, both professionally and financially. One way to minimise your workload and increase your pay is by appointing the right accountancy service provider for your business.
You may choose to opt for an accountant who has worked in the family for years, or a high street solution, but keep in mind there’s more than meets the eye when you run a limited company. This is where an informed decision and the right contractor accountant help alleviate the burden, so you can focus on getting contracts and doing what you love.
How to choose the right contractor accountant,
A check-list of things to consider when choosing your accountancy solution:
1. Do they understand UK Tax Laws?
There are certain tax rules that limited companies and contracting individuals need to abide by as set out by HMRC. Choosing an accountant that understands these rules and complies with them will be crucial to enjoying increased take home pay and the smooth running of your new business.
At Churchill Knight we are always up to date with the latest changes in HMRC legislation and UK tax.
2. Are they experts in contractor accounting?
We provide experts for experts. Our experienced teams have been working with contractors and freelancers for over 17 years and fully understand contractor challenges, legislation and tax laws. The company was founded by a former contractor, and so we understand and put the needs of the contractor first.
3. Is the service all-inclusive?
It is always worth keeping in mind what type of service you are going to be provided by your accountant. Will they manage your accounts, bookkeeping, payroll solution and invoicing? Or will you be required to do a lot more than you bargained for when you appointed your accountant?
Will you find hidden fees later crop up when you make a simple request or need a little support or advice?
Hidden fees can be crippling, but at Churchill Knight we supply you with an account management team to help you operate your limited company stress free. This includes an accountant, bookkeeper, payroll and invoicing team dedicated to you and your limited company. What’s more, there is no contract tying you in.
4. Are they there for you from start to finish?
You need a team that knows you and your business. You also need a dedicated accountancy provider that will handle the vast amount of administration, including setting up as a limited company, from registration with Companies House to setting up your business bank account.
We can also help take care of invoice production, provide payslips at no additional charge and supply references for mortgages and lettings. This means contracting or self-employment doesn’t need to hinder your personal life.
5. Level of Service:
What level of service and commitment will your accountant provide and will this save you time?
It’s important to make sure that your accountancy solution simplifies the process for you. You don’t want to spend hours each week completing paperwork for your timesheets and expenses; this will cost you valuable time.
Churchill Knight provides an easy to use online portal for time sheets, expenses and viewing your contracts and invoices. We send you an email and text to keep you informed about your accounts. This reduces the demand on your time for all the details we can handle for you and your limited company.
Enjoy the security of an accountant that does it all for you. With Churchill Knight you spend less of your time managing the details of your accounts, and more time securing new contracts, working and enjoying your life.
So, how can we help?
If you’re looking for an accountancy provider that covers all the points in our checklist for choosing the right contractor accountant, Churchill Knight is the one that will meet your needs.
Our team of experts are on hand to speak with you offering free advice alongside their expert knowledge and understanding of contractor accounting.
For more information, give our consultants a call on 01707 871622, email on firstname.lastname@example.org or click the button and request a call back.
Find out more about choosing the right contractor accountant.
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