FAQ's About Accountants 4 Contractors
Who is our service designed for?
Any Contractors essentially. You may be a 1st time Contractor who requires initial guidance or assistance; or you may be an established Contractor who just wants to leave all the general Accounting to a professional or you may be a small business that requires ongoing advice.
Why choose us?
We believe that proving our service is better than just talking about it, because we offer qualified individuals each step of the way when you deal with us. As such should you make any contact our aim is to be as constructive, informative and helpful as possible in order to meet your objectives.
How long does it take to set up a company?
This depends on the type of company you choose. There are two options - either a Shelf company or Umbrella company, which has never traded before and would be ready for you to use immediately. Or you can choose your own name such as XYZ Limited, and this will take a little longer and depends on the current processing time scales at Companies House.
We offer both options, and can guide you to the most suitable option based on your circumstances.
Who do I speak to, and how do I contact you?
Please contact us on either:
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Accountants 4 Contractors
4/5 LOVAT LANE
LONDON
EC3R 8DT |
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Tel:
Fax: |
(0) 207 337 0830
(0) 207 337 0839 |
What are my responsibilities as a Director?
Click Here to find out your responsibilities as a Director
What do you do for your fees?
Click Here to find out about our fees or call/contact us to discuss: 0207 337 0830 - info@accountants4contractors.com
Will I have to set up/write my own spreadsheets or programmes?
No. We provide you with everything that you will need to manage your Accounting affairs with us.
Will I have to keep my own records?
No. Whilst a client of ours we maintain all your documents for you and these must be kept for 4 years for Companies House and 6 years for the Inland Revenue.
Do I have to have a Company Secretary?
Yes.
Who will be my company secretary?
This is a matter of personal choice, and you can appoint anyone of your choice. However in the event you cannot decide on a suitable person we offer a Company Secretarial service where we act as the secretary for your business.
Will not having my P45 delay setting up the business?
No this will not delay you starting your contract or forming the company. Your P45 is not required for the purpose of forming a business; it is required to structure your salary requirements throughout the year.
I don't have a P45, what do I do?
Do not worry; we would complete a P46 on your behalf to register you with the Inland Revenue for tax purposes.
Do I have to open a business bank account?
Yes.
How do I set up a business bank account?
You can either consider using one of our preferred providers or you can open the account of your choice.
Already contracting and unhappy with your current accountant?
Here at Rodliffe Group we are happy to conduct a no-cost, no-obligation business review to offer help, guidance and possibly the option to move your accounting to us. Please contact us for further details.
Will I now receive a Self Assessment form to complete?
Yes, as a company Director, although the deadlines for completion are generous. You will receive a self assessment after the end of each tax year (5th April). If you decide you would like the Revenue to calculate this for you, the form needs to be with them by the 30th of September. Alternatively, you have until the following 31st of January to return the form.
Can you help me with my Self Assessment forms?
Yes we can, we can either complete them fully on your behalf or we can give you guidance relating to the areas of completion.
Why should I use a specialist Contractor Accountant?
This is a matter of personal choice, however with most things in life we cannot all be good at everything. We have chosen to specialise in the contractor market for a reason, namely the fact that we can and will answer your questions without the need to continue dealing with other forms of business. Quite honestly you get what you pay for and we have made considered investements in the right technology and the right people to ensure that you do as little as possible whilst having the confidence that you will receive maximum returns.
Should I have a company car?
This is a matter of personal choice, however we can help you to decide this option from an accounting perspective. Generally speaking with current tax legislation on company cars it is not normally the best option unless you annual business mileage exceeds 28,000 miles.
What happens if I take a permanent job?
You have a couple of choices - either leave the company trading Dormant, which allows you to keep the company for future use. - Or you could consider closing the company down and withdrawing all remaining funds (after all liabilities have been met).
What are the company requirements?
Accounting records - Must be kept for 4 years (Companies House), and 6 years for Inland Revenue.
Financial statements - Must be prepared each financial year, which give a true and accurate picture of the profits and losses within that year for the business.
Companies House - You are responsible for any documentation or returns for the business, most notable of these is the Company Annual Return.
As with all these areas we are here to help you, and we will be with you each step of the way to guide you and ultimately take away the general donkey work that goes along with running a business. |
