Why use a specialist contractor accountant?

Are you considering leaving your permanent job and becoming a contractor? Hiring a specialist contractor accountant can save you both time and money.

Do you like the idea of being your own boss? Perhaps you’ve recently been made redundant and you’re interested in checking out your options?

Contracting could be an easier way back in to work and prove to be very lucrative too. There are just a few things to think about first

How do you want to operate?

The first thing you need to do is decide how you want to operate – and for this, a specialist contractor accountant is ideal Why? The many different options can be difficult to understand; do you want to be a limited company, a corporate partnership, common law partnership or a sole trader?

Those interested in less admin might choose an umbrella company or agency PAYE.

A specialist contractor accountant can not only explain the benefits of each option (depending on your circumstances), they will also stick with you once you have taken the plunge and chosen your new career path. There are not many more important things to make sure you have done when setting up a new business than speak to a specialist contractor accountant.

Why Contract?

Many people decide to enter contracting for any number of reasons;

• As the economy leaves recession, the demand for contractors increases
• A new challenge or more flexibility to fit around your lifestyle
• Ability to earn more money!
• Chance to work in a variety of companies and industries

As each business watches their profitability more closely, the demand for contractors grows. Employing a contractor to take on a particular job for a certain amount of time can be much more cost-effective for a business than hiring full-time staff.
Hiring a specialist contractor accountant ensures you have nothing to worry about when it comes to your IR35 or any forms! A specialist accountant will know every detail that affects you, and can handle all your tax, National Insurance, VAT returns etc. with ease.

Contractor Accountancy Costs

If you’re looking to save on hiring a traditional high-street accountant then a specialist contractor accountant might be the ideal solution. Paying a fixed monthly fee instead of a per-hour service means there are no nasty shocks when it comes to bills and you can have as much advice, phone or email, or even face-to-face contact as you want.