Diffences between accountancy firms?

**jamesbrown** · 7 January 2013, 00:59

Best bet is to form a shortlist, do a little research on what's involved, and then call each firm. Doing a minimum means having them handle the monthly/quarterly and year-end company and self-assessment returns. You can view the monthly fee as an installment on the year-end accounts, as these involve the most work. During the year, it's just simple things like quarterly PAYE nil returns (assuming you don't have any PAYE) and VAT returns if you expect to meet the threshold (or register for the FRS).

Bear in mind that you do have to keep on top of the company finances (i.e. bookkeeping) as you will be signing-off on everything. Once you have your bookkeeping spreadsheets (or whatever) set-up, it's minimal though.

Some firms will be a little more proactive than others in suggesting savings and keeping on top of things. Try a forum search for several threads with accountants that come highly recommended.

Oh, and have your contract reviewed

**Jessica@WhiteFieldTax** · 7 January 2013, 07:59

As first reply says, form a shortlist and call a few.

Bear in mind that, whilst wanting to do as little as possible is perfectly acceptable, you do need to have an element of control over what is happening and have a handle on your finances, partly as its all your responsibility anyway, partly so you can have a indication if something is going awry.

**Jeremiah@RHJAccountants** · 7 January 2013, 08:52

First of All i would say have your contract reviewed, I am sure plenty of people can Reccommend some like the usual, Qudos , Abbey Tax etc My firm uses Abbey tax.

When it comes to choosing your accountant i would say all a few and see what they offer as a service which would best fit your company.

You say you would like to do as little as possible well why not ask if the accountant will do all the bookkeeping along witht he usual year end accounts and corporation tax.

Also most contractor accountants charge a monthly fee and make sure you get your payroll, VAT dividend calculations, reference letters for visa or mortgage included.

Make that you can have unlimited contact to your own dedicated accountant ( i know my clients would hate to be passed around to everyone in the office each time they call or e-mail).

A good accountant will save you money.

good luck with your choice and welcome to contracting

**Greg@CapitalCity** · 7 January 2013, 09:04

Call

I always think your best option is to call a few accountants, to get your head around what they offer. Understand the fees involved, time to get set-up, and what you need to do week-to-week (month-to-month). Also take the chance to dispel any myths you might have about contracting, and ask those nagging questions that would take you hrs of looking on the internet to find answers for (and only then you might be 50% confident you have it right).

**Maslins** · 7 January 2013, 09:16

Originally posted by Jessica@WhiteFieldTax View Post

As first reply says, form a shortlist and call a few.

Bear in mind that, whilst wanting to do as little as possible is perfectly acceptable, you do need to have an element of control over what is happening and have a handle on your finances, partly as its all your responsibility anyway, partly so you can have a indication if something is going awry.

Exactly this...I know the second paragraph doesn't directly answer your question, but legally as director YOU are responsible for your company, not your accountant. Sure, the accountant should help, but if you rely 100% on them you'll almost certainly get a nasty surprise sooner or later...not because they'll do anything wrong necessarily, but because there'll perhaps be some assumed knowledge (eg this thread).

In terms of picking between them, you can to some extent do that from websites (eg some will include personal tax returns some won't), but accountancy is a service...so cheapest that on paper ticks the boxes you want won't necessarily be the best. They may ignore any queries you've got, use the lowest level staff to save costs, but meaning work is done to a poor standard and errors are made, etc etc. Unfortunately no easy way to find out about this, except perhaps personal recommendations.

**northernladuk** · 7 January 2013, 10:41

Have a look at this thread and then ask yourself about how little you want to do.... You are still legally reponsible at the end of the day and no one will be there to pick up the pieces when it goes wrong. Prevention is better than a cure.... This is one of many we get like this as well.

http://forums.contractoruk.com/accou...-cant-pay.html

Saying that I would suggest SJD or Nixon Williams would be a good start. I don't know about Crunch etc but SJD have a spreadsheet which allows you to track your monthly accounts down to the penny with warnings about not filling it in correctly etc. I personally love the fact I can account for every single penny at any time rather than leaving it all until the end and passing bits of paper around (apologies if I have over simplified the process at other accountants). All SJD have to do is to remind me to send it in at certain times. Takes me 10 mins a month to do the spreadsheet and I sleep like a baby. If 10 mins is too much for you then you need to prepare for the worst IMO.

**Wanderer** · 7 January 2013, 10:53

Originally posted by Daleuk View Post

What I really want, is a service that would enable me to do as little as possible. However I'd also not like to pay over the odds.

I presume you read the sticky with a list of Recommended Accountants...

I'd definitely recommend you go for one that has an on-line system where you can put in the details of each invoice and upload your bank statements. That way you can see what position your company is in on a day to day basis, if there are any profits you can extract, how much you have set aside for VAT/CT, how much more you can take before you hit the higher rate tax limit etc which helps keep you on the straight and narrow.

There is always going to be a certain amount that you have to do for yourself though and you have to keep an eye on what's going on. Accountants have a habit of shrugging it off and blaming the director when mistakes happen.

**Maslins** · 7 January 2013, 11:02

Originally posted by Wanderer View Post

Accountants have a habit of shrugging it off and blaming the director when mistakes happen.

Hehe, I think a few accountants would suggest the reverse is true.

I would stress life ain't easy for an accountant with a brand new contractor. Send them too much information and you get accused of swamping them so they don't read any of it. Send them too little and inevitably something will be omitted which is then your fault. Finding the right balance isn't easy.

**d000hg** · 7 January 2013, 11:54

I've never heard of the ones the OP mentions, the main ones people here seem to use include InTouch (my choice), SJD, Nixon William and ClearSky.

I'd drop each an email (or phone them) and see what impression you get.

Diffences between accountancy firms?