Richmond, UK -- (SBWIRE) -- 02/04/2013 -- Leading contracting news site, Contract Eye, has launched a new microsite, to help fellow contractors select the right accountancy provider for their companies.
Most IT contractors work via their own limited companies, and typically hire the services of specialist accountants to handle their company accounts, payrolls, and deal with Companies House and HMRC on a regular basis.
In the 1990s, the contractor accountancy market was dominated by a few major players, but over the past five years, the number of specialist providers has increased significantly – providing a wider variety of choice for contractors.
The new site, ITCA (IT Contractor Accountants), provides concise guides to all aspects of selecting the right provider, together with guides to the fundamental aspects of limited company taxation.
ITCA’s founder, James Leckie, was an IT contractor himself for a number of years, before running a series of industry news sites. He explained the motivations behind creating the new site:
“Over the past 15 years, the ITCA team have used the services of nearly a dozen different contractor services providers, and we have used our own experiences to help create a series of guides to help other contractors find the right accountant without having to learn the hard way.”
When asked to highlight the most important factors you should consider when comparing prospective accountants, Leckie explained:
“With such a wide number of specialist accountants operating in the contracting market, the main ways to differentiate between firms is on customer service and price. However, you should not select an accountant purely on price alone.”
Other selection factors highlighted by the new ITCA site include:
- Does the firm provide online accounting facilities? Are the accounts updated in real time?
- Will you be provided with a dedicated account manager?
- Are there any exit fees should you decide to change accountants?
- Does the provider have specific industry knowledge - particularly relating to IR35?
- Will the accountant include the costs of completing the director’s Self Assessment Return?
- What recognised accountancy qualifications does the firm’s key personnel hold?
- If possible, seek recommendations from trusted colleagues.
“Your accountant will be your most trusted advisor during your contracting career, so we hope that our series of guides can help contractors make an informed choice from within a crowded market of providers."
James Leckie has founded a series of business information sites since 1998, including:
Company Bug – a guides-based site dedicated to limited company contracting.
Bytestart - one of the UK’s leading business websites, providing information on setting up and running a small business.
For further information, please contact:
Director, Contract Eye Limited (London, UK)
Telephone: 0208 144 5046