Accounting - Outsourcing and Contracting

If you are a start-up business and need to outsource a contractor accountant, you will need a firm that will take care of start-up accountancy tasks like incorporating your company via Companies House and registering your company to pay VAT, Corporation Tax, and Employers' National Insurance.

Learn more about contractor accountant


What are the ongoing tasks of accountants?


The main ongoing tasks of accountants are running monthly payroll for the contractor, submission of payroll data to HMRC, dealing with Companies House correspondence and dealing with all HMRC-related correspondence. Other tasks are completing your company's quarterly VAT returns and answering day-to-day questions relating your business's tax affairs.


Other additional services


Other services that an accountant provides are IR35 contract reviews, bookkeeping, completion of your personal self-assessment tax return, providing accountancy references for letting agencies and financial services that include mortgage and pension advice.


Advantages of outsourcing contractor accountants


There are a host of advantages in outsourcing contractor accountants such as helping you to create and maintain a good business. Good business habits may prevent future employees from stealing and will keep your business informed at all times where it stands financially. Another advantage of outsourcing is that he or she can provide the information and analysis you need to seek investment capital.


Other advantages


In addition, your accountant will also help you determine how much money you are spending and will give you advice that will help your business as the years go by. Effective accountants will also offer advice and insight that will give you timely and helpful information on budgets, financial statements and forecasts.


Also, outsourcing an accountant will ensure that their accountancy services will conform to your needs. In other words, they will be flexible and if necessary, give you more comprehensive daily services in the future. Outsourcing also allows you to allocate more resources to areas that add value to your core competency.


Outsourcing will save you money


Outsourcing will save you money. Most importantly, you will have peace of mind that you are getting professional and timely support. Hiring a contractor accountant will also give you more time so that you can take care of your business and leave the financial and responsibilities of paying taxes to the accountant.


Tips on finding a good contractor accountant


There are several tips that will help make it easier when hiring a contractor accountant such as first making it clear with your outsourced accountant on the information you need so that you can make more informed decisions. Then, be clear about ongoing responsibilities, methods of communication and check-ins.


To conclude, if you are a start-up business and need to outsource a contractor accountant, you need a firm that will take care of start-up accountancy tasks like incorporating your company via Companies House and registering your company to pay VAT, Corporation Tax, and Employers' National Insurance.


Talk with an HR representative and find out more about outsourcing a contractor accountant. With the many advantages they offer, it makes sense to hire one for your business.