Thinking of switching your contractor accountant? Your choice of an accountant can have a big impact on your experience working as a contractor. It’s important to choose an accountant who understands your business needs and the environment in which you work.
Whether you feel you are not receiving the right level of service, or that you are paying too much for a service you don’t require, there are many reasons why you may feel it’s time to switch your contractor accountant.
The accountant isn’t a contractor specialist
General high-street accountants are structured in a way that appeals to a broad customer base. They also deal with a wide variety of policies and laws rather than those pertaining to contractors specifically. Using a general accountant can mean that you are not getting the best service for your business, or yourself as a contractor.
A specialist contractor accountant will have a better knowledge and understanding of the ever-changing legislation surrounding contractors. Overlooking or mishandling these laws can often result in a big financial impact for you further down the line.
Not having access to your own dedicated account manager
It is important to have access to your own account manager who is familiar with your business and is able to answer all of your queries promptly. When using an online-only accountant or software you may find you may find you aren’t given your own dedicated account manager- and will be dealing with different people each time you ring up. This can be annoying as that accountant may not have dealt with you before, and is not familiar with your business. The accountant may have to learn more about your business before they are able to effectively deal with your query, making it a very time-consuming process.
Experience and credentials
You’re going to rely on your accountant’s advice, so make sure you are using an accountant who knows what they’re talking about. Look for an experienced accountant who has been working with contractors for a while, and has a history of success in the contracting industry.
It’s a good idea to check for accreditations with professional accountancy bodies, such as Professional Passport. This will show that the accountant has the relevant skills and expertise you need.
You’re not getting value for money
If you feel like you’re paying too much for a service you aren’t satisfied with, it’s time to shop around. Look for an accountant that offers a variety of different packages for various prices. This will allow you to find the package that suits your business’s needs, and ensure you’re not paying for a service you don’t require.
To make sure you get the best value for money, you should think about using an accountant that offers fixed fees. This means you won’t end up getting any unpleasant surprises in the form of hidden fees, which you may find from accountants who charge by the hour. Using an accountant that charges a fixed fee means you can effectively budget your outgoings and plan your expenditure for the year.
Support whenever you need it
Contract work isn’t always the standard 9-5 and as a busy contractor, you’ll want an accountant that lets you manage your accounts around your busy schedule. You should consider choosing an accountant that offers a personal service coupled with a mobile-friendly online portal. This lets you manage your accounts at a time that suits you and if you need help there is someone on hand to help you via email or phone.
How to switch your contractor accountant to Churchill Knight & Associates Ltd
Churchill Knight & Associates Ltd provides specialist accounting services to contractors and freelancers. We offer a specialist, tailored service to meet your individual needs. Whether you choose to operate through a limited company, umbrella company, CIS or as a sole trader, Churchill Knight’s team of experts will provide you with unlimited support in operating your business from start to finish.
If you wish to switch your accounts to us, we will guide you through the entire process and make sure changing your accounts is quick, simple and cost-minimising. Please give our friendly team a call on 01707 871622 to find out more about our services, or to begin the sign-up process.
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* Calculator for illustration purposes only and uses assumptions. Limited figures based on 52 weeks, expenses £50 per week, £9,100 salary and accountancy fees included. As of 1st April 2023, there is no longer a single rate of Corporation Tax. The calculator uses assumptions and estimates and is designed to be accurate by individual circumstances will vary. Umbrella figures based on 52 weeks, £15 per week margin and holiday pay paid out. For a more accurate calculation tailored to your requirements, please contact Churchill Knight today by calling 01707 871 622 or contact us here.
