Three questions to ask when choosing an accountant

What type of accountancy firm should I choose?

There’s plenty of choices when it comes to high street accountants.

These accountants will typically offer a competitive price and charge a small fee for completing your year-end accounts.

However, many of these firms do not have a solid understanding of the way in which contractors and freelancers work, and it may be difficult to get the best advice on issues such as expenses.

As an alternative to standard high street firms, you could opt for a fixed fee accountancy package, which will provide ongoing support. The benefit of this option is that they will handle your tax affairs throughout the year, are on hand to answer questions when needed and the accountancy fees are spread out over the year.

What should I look out for when choosing a contractor accountant?

Not all accountancy firms are the same, so it is worth doing your homework. Below are some of the factors that you may want to consider when choosing your accountant:

• Do they specialise in the contractor market?
• Will you have your own dedicated accountant, or will you be passed around from accountant to accountant?
• Do they provide a company formation service free of charge?
• Can you leave with no penalty or are you committed to 12 months or more?
• If you were to change accountants, will they transfer your accounts and paperwork with no extra charge?
• What input do they expect from you?
• How long has the accountancy been providing a service?

What can an accountant do for me?

The right accountant will not only provide valuable tax-saving advice but give you peace of mind that your limited company is being administered in the correct way. Figures and accounts are not everyone’s forte so see below for more of the ways that an accountant can help you.

• Advise you on the most tax efficient way to structure your company
• Provide ongoing advice and tax planning opportunities
• Help you claim on a wide range of expenses
• Complete your year-end accounts
• Deal with Companies House and HM Revenue and Customs on your behalf
• Ongoing bookkeeping
• VAT calculations
• Deadline reminders

How can Nixon Williams help me?

As one of the UK’s leading accountancy firms, Nixon Williams has provided support to contractors, consultants, and freelancers with all of their financial needs.

As a client of Nixon Williams, you will have access to your own dedicated accountant, who is always on hand to provide advice regarding your finances. To speak to an accountant, simply call 01253 362062 or email newbusiness@nixonwilliams.com.