| Of all the professionals you will encounter during your | | | | too. Make sure you ask any potential accountant what |
| career as a freelancer or contractor, your accountant | | | | exactly is included in their fee before signing up. |
| is without doubt the most important. | | | | 3. Qualifications |
| Choosing the right contractor accountant is, therefore, | | | | Any decent accountancy firm will contain fully qualified |
| an important task for anyone thinking about starting out | | | | staff. Qualifications may well be displayed on company |
| as a contractor. Here are some tips from the Contract | | | | websites or literature. Firms will typically be members |
| Eye team on the things you should look out for when | | | | of the ICAEW, ACCA, CCAB and ICAS. |
| choosing an accountant for your limited company: | | | | 4. Shop Around Don't be afraid to call up any |
| 1. Choose a specialist Only a specialist contractor | | | | prospective accountants before making the leap - ask |
| accountant can provide the in-depth advice you will | | | | to meet up with them, or ask if you can chat to a |
| need. Not only will they have accountancy systems in | | | | current client to get their views. Draw up a shortlist of |
| place to easily process your accounts, they should | | | | 3 firms (and there are scores to choose from), and |
| also have up-to-date knowledge of industry-specific | | | | search the online contractor forums for advice and |
| regulations and ax changes, such as IR35, income | | | | experiences from current clients at each firm. |
| shifting, and the impact of the Agency Workers | | | | 5. Recommendations |
| Directive. | | | | By far the best way to choose an accountant is via a |
| 2. No Hidden Fees | | | | recommendation from a contractor colleague, or friend. |
| A good contractor accountant will be upfront about | | | | They will have first hand experience, and will be able |
| the fees they charge. Almost all specialists will charge | | | | to offer an independent view. Over time, you may well |
| a fixed monthly fee of between £75 and £125 per | | | | use a number of accountancy firms before settling |
| month. For this sum, you should expect all your | | | | upon one which suits you, so don't be concerned if |
| company accounts to be taken care of each year - | | | | your current provider doesn't quite hit the mark, you |
| some also offer to complete your personal tax return | | | | can always switch. |