Best contractor accountants

Here are some top tips to ensure you find the best contractor accountant:

• Choose a specialist contractor accountant – A specialist contractor accountant will be knowledgeable about contractors, freelancers, and small businesses and understand the relevant legislation for you and your business.
• Are they new to the market or have an established business? There are plenty of contractor accountants to choose from, and starting your search can be daunting. When you are deciding who the best contractor accountants are, it is a good idea to choose a company with a long record of successfully and compliantly providing their service within the UK.
• Always choose a compliant provider – Operating compliantly and paying the correct amount of tax is critical. You must make sure the company you deem the best contractor accountant is not facilitating tax avoidance and is operating in full compliance with HMRC. A good indication that the company is a compliant provider is to see if it is accredited by reputable industry bodies such as the FCSA.
• Do they use any technology to support their service? Many accountants use FreeAgent, Xero, and Quickbooks software for record-keeping and accounting. While it is important to use an accountant who offers market-standard software, choosing an accountant who doesn’t solely rely on the software and will provide proactive advice and a professional service is also important.
• How much do they charge? How much an accountant will charge will vary depending on what the service includes. If you would prefer a completely hands-off service where the contractor accountant takes on all the administrative work, then you can expect to pay a bit more than a service where you complete some administrative tasks.
• Check what isn’t included in the service – What’s not included in the service is perhaps just as important as what is included in the service, as you may be required to pay extra to include services that you require.

Do they have a good reputation online? A great website is not an indication of excellent service. Google and Trustpilot reviews, online forums, or LinkedIn are great ways to find out contractors’ opinions on contractor accountants you are considering using or ask for recommendations.

Are they responsive? How efficient and responsive is the accountant? Do you have to chase them or follow up on queries or enquiries? An accountant who is unreachable or unavailable could lead to missed deadlines, accounts filed incorrectly or late to HMRC or Companies House, or incorrect information being given to you. Always choose an accountant who makes you a priority.