If you are a contractor who has already decided that the best optionthat you have for your career’s current stage is a limited company, then you might want to consider hiring a contracting accountant since this is considered to be the next big step that you need to take. It also happens to be a pretty important one as well because you can save a pretty good amount of money on your accounting fees by having a good contractor manage them efficiently. Choosing the right contractor can be a bit tricky, but there are ways to make the process go a little bit easier for you.
There are a lot of accountants for contractors in London, but if you are currently searching for one then it would be a wise move to go for someone who is a specialist. The accountant that you are looking for should be someone who specializes in contractor affairs. He/she must also have a solid understanding of some important issues such that are related to contracting with IR35 being a good example. This is a very crucial requirement that can pretty much rule out most of the high street accountants out there.
Contractor accountants also just love to advertise themselves in the best way possible and this can sometimes sway people the wrong way. Before you fall for an accountant’s marketing ploy, you will first want to check out his/her qualifications and see if they can all back up the accountant’s hype. You might also want to see if the accountant is a member of a registered professional body like the Association of Certified Chartered Accountants. If the accountant that you are interested in is not a member of any registered body, then you might want to proceed looking elsewhere.
Do some research on the size of the contractor’s accountancy firm since they tend to vary in London. When searching for accountants for contractors in London, it is important that you remember to go for one that suits the purpose of your business. Do not think that larger accounting firms will instantly guarantee you success because some of the services that they offer can sometimes be impersonal.