Going Solo - Contracting

SO I have made the choice to go solo and start contracting in my industry (Workforce Management).

I am lucky enough to already have a 12 month contract so don't have to go looking for work, but what I do need is to set up my company and find an accountancy firm that will do everything (within reason) for me.

I have been recomended a couple fo companies:

SJD Accoutnancy
CDJLtd

Anyone recomend a company?

I set up my own training and consultancy business last year on retiring from the Police. I was looking at accountants but ended up subscribing to quickbooks which seems to record everything including an app for mileage. It enabled me to submit my first ever tax return and was simple, no fuss and cheap. I am a one man band at the moment but it seems to work well for me.

Do you use an accountant for tax guidance etc?

not so far as my situation isn't complicated at all by property etc.

If you haven't, you're probably missing out: for example, if you're using a room of your house as an office, there's a tax deduction available on power, lighting, heating, internet, phone...

He'll also be able to advise the relative costs of becoming a company vs sole trader, whether it's worth being VAT registered even if you don't meet the 'have to' point (probably yes, because you can either bill and reclaim all VAT purchases, or you can bill and be charged a flat rate based on your occupation - for me that saved a couple of percent).

My accountant saved me a lot more than he cost over the years...

Hmm...all good points I might pay one a visit then!

Having been self employed for 30 years before retiring 5 years ago, I totally agree with Barnacle's comment.

I have been a ltd company contractor for 12 years, my advice would be to find a good local accountant, one that you can get hold of easily and who actually does the work rather than sub it out to minions.

I'll have been freelance for one year in just under three weeks time. I use Brookson. They're probably at the top end in terms of price (£174 a month) but they were recommended to me by a lot of guys that had gone cheaper / elsewhere before and regretted it. They've been excellent for me. Their online site is excellent for logging all of your expenses and for managing your business account. This is a big thing for me - I want to understand how it all works where most people dont seem to care. You can call them whenever you like and they've always been able to answer my questions.

I'd recommend them to anyone starting out as they also have a nurturing period at the start. This is basically a series of booked phone coversations to take you through it all when you first start. They also set up your business account and take care of all that stuff that seems daunting at first.

I'll have to tell my wife about QuickBooks - sounds interesting. She's a sole trader and went on her own offering business consultancy and training January last year. I think a lot depends on the nature and complexity of your work but she's managed her own affairs, filed her tax return etc without the need of an accountant. She reckons what an accountant could save would be balanced against their fees so hasn't bothered although everyone's circumstances are different.

Anyway E81 good luck with your new venture as I know my wife has not regretted one bit jacking in her routine job.