If you set up a limited company, you are not legally required to appoint an accountant, although there are multiple benefits of doing so. In this article, we discuss if appointing a limited company accountant to look after your affairs a statutory requirement, or if can you take care of your accounting duties yourself?
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contractor accountant
Given that anyone can set up in business as an ‘accountant’, how can you be sure that accountants hold the necessary qualifications to provide a good quality, regulated service to their clients?
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Unlike traditional ‘small business’ accountants, most contractor accountants provide a specialist service tailored to the specific needs of contractors – typically for a monthly fee.
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A leading contractor accountancy firm has published the results of a major survey into contractors’ attitudes, based on the responses of over 1,000 limited company clients.
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Contractors’ organisation, IPSE, runs an ‘Accredited Accountant’ scheme to provide limited company owners with extra reassurance that member firms are fully qualified and trained to deal with the specific needs of contractors and freelancers.
The organisation was previously known as the Professional Contractors Group (PCG).
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If you are new to the contracting world, one of your first tasks (aside from finding that first contract) will be to choose an accountancy firm to look after your finances.
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There are literally hundreds of specialist contractor accountancy service providers operating in the UK. They vary in size, what they offer, and of course – how much they charge.
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