Benefits of having a contractor accountant

by SJD Accountancy on July 12, 2013

An accountant is a contractor’s greatest ally when it comes to the financial side of your business, by using their in depth-knowledge to give you the best advice and guidance possible.

So, why do you need a contractor accountant?SJD Accountancy - contractor accountant

Some people may think that having an accountant is a bit of an expensive luxury, but this isn’t the case at all…

What you gain from having an accountant:

  • The confidence that all the necessary forms are both filled in correctly and on time.  It is very important that the financial side of your business is taken care of properly in order to avoid fines and to ensure that you keep on top of everything.  A contractor accountant can give you the reassurance that your tax return and any other documents will not only be filled out correctly, but will also be done in time.
  • Will save you valuable time.  Spending a great deal of time on the accounting side of your business means that you’ll be spending less time concentrating on earning money for your business.  An accountant will be able to deal with your finances more efficiently, as well as relieving you of the added stress of worrying about your taxes.
  • Helping you with tax planning.  A good contractor accountant will be able to help with all areas of tax, and having that extra knowledge is particularly useful, what with tax laws always changing.  They’ll be able to advise with Income tax, Capital Gains tax, inheritance tax, trusts and estates and non-domiciliary tax issues. Having professional advice in this area will also mean that you can potentially save money, meaning the accountancy service will more than likely ‘pay for itself’.
  • The development of your business.  An accountant will be able to offer great advice when it comes to the growing of your business, helping you to make the right financial decisions early on, to ensure the development of your company.

How do I choose an accountant?

When choosing the right accountant for you, there are many factors to consider, such as:

  • How much they charge.  Most accounts do charge fixed fees, but you must check that there are no exit fees, or additional costs for meeting with your account or for carrying out your personal taxation.
  • Whether you’ll have your own dedicated accountant. You want to know that you’ll have someone who you can speak to, email, meet and who has the time to learn all about you and your business – instead of just being passed to a different accountant each time you get in contact.
  • Their credentials.  If a company claims to have certain awards, it’s always worth looking into this to see just how genuine these are.  It’s also worth considering word of mouth if you know someone who is particularly happy with their accountant’s services.

For just £110 + VAT per month, SJD Accountancy offers an all-inclusive fixed fee accountancy package, which covers:

  • Year end accounts*
  • Payroll bureau
  • Dividend administration
  • Dealing with HM Revenue and Customs and Companies House
  • Completion of VAT returns and Annual Return
  • Personal Taxation
  • IR35 compliance and solutions
  • Free bookkeeping software

So, if you would like to appoint SJD as your accountants and need information on how to switch accountants, click here, or alternatively speak to a member of our new enquires team who can guide you through the process. Call 0500 152500 / 01442 275789 or email  lisa.wood@sjdaccountancy.com

This post was written by...

– who has written 427 posts on SJD Accountancy Blog.

For all the latest contractor news, views, debates and competitions, why not join us on Facebook and follow us on Google+.

Contact the author

Leave a Comment

Current day month ye@r *

Previous post:

Next post: