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3 reasons you need a specialist contractor accountant

Are you just starting out as a contractor and need to find someone to manage your company accounts? A specialist contractor accountant is likely to be your best option.

While many high-street accountants and large firms may be able to provide the service you need, they won’t have specialist knowledge of the tax relief available to individuals and small businesses.

Contractor accountants understand small businesses often have no dedicated resource for preparing their company accounts so they require efficient service and accurate guidance to keep their accounts up to date and compliant.

In addition to ensuring all company accounting responsibilities are met, a specialist contractor accountant saves you time, hassle and money – these are our top three reasons for why you need a specialist contractor accountant.

Free up your time to focus on what matters

The first reason is to free up your time so you can focus on what matters. Whether this is landing that new client or spending more time with your family, employing a specialist contractor accountant means you’ll have more time to do what you love. As contractor accountants offer a responsive and efficient service, you’ll quickly receive an answer for any queries or concerns relating to your company accounts. In many cases, they can even have your company accounts set up within 24 hours.

Always know how much you can spend

Another reason you need a specialist contractor accountant is to save hassle. Even if your accountant is competent at reconciling company accounts, having to make time to physically go and see them can use up valuable resources. When you’re unsure about the state of your company finances, you can easily become anxious about these meetings, which can cause you to lose focus in your day job. The good news is many contractor accountants (including Cobia Accounting) allow you to access your accounts online, so you’ll always know what the state of your company accounts is and how much tax you’ll need to pay.

Tailor a package to suit your needs

Employing a specialist contractor accountant can also save you money. Instead of paying for fixed packages that include many services you’ll never need, a specialist contractor accountant tailors a package to suit your needs, so you only get the services you want. As contractor accounting is more of a specialised field than other types of accounting, you can also rest assured you won’t just be a number on a spreadsheet but you’ll be a valued client whose professional success matters to your accountant. You’ll also have the opportunity to save money by budgeting a set amount each month to cover your accounting fees as opposed to traditional firms that bill you for the time they’ve spent reconciling your accounts, which can often result in higher fees than expected.

Since 2008, Cobia Accounting has helped hundreds of contractors set up their own limited companies and save them time, money and hassle. To learn more about our specialist contractor accounting services, contact us today.