Why an accountant who specialises in contractors?
Contracting isn’t the same as a traditional business, with IR35, VAT schemes and dividend planning needing specialist support. Generic accountants may charge you more and give poorer advice. An accountant that specialises in contractors will save you time, cut your tax bill and ensure you are fully compliant.
5 Reasons to choose us
- We will review your contract for IR35 (contract law & tax law) and advise you on how to remain outside IR35 and get the most money in your pocket.
- We will advise on tax planning opportunities, for example, to get the right balance between salary/dividend and the use of perks (such as pension contributions where you can pay in £60,000 per year tax-free).
- All accounts packages include FreeAgent software – this allows you to automate much of your bookkeeping, generate real-time tax estimates and provides many more time saving features. Our Solo package is from £109+VAT per month.
- Calls/emails before 3pm will receive a same-day response. You won’t have to wait a week to get an answer to your query.
- We will take the worry and hassle out of compliance by doing all of your accounts, VAT, payroll and self-assessment so you can concentrate on being a successful contractor.
The results you can see from an accountant who really understands contracting
Let’s say you are earning £500 per day as a contractor and working outside IR35. With good tax planning using options like Flat Rate VAT, a pension and maximising legitimate expenses, you could easily save £5,000–£10,000 per year in tax. If you use a high street accountant who has no knowledge of contracting, you are likely to overpay tax and potentially get fined by HMRC for making mistakes.
Why generic accountants don’t work for contractors
Your local high-street accountant will typically charge £150–£300 per hour, and has no specialist knowledge or experience of IR35 or the ways that contractors can save tax. They may know some of the basics like allowable expenses, but are likely to miss things like trivial benefits (e.g. 6 x £50 tax-free gifts) or using your spouse as a shareholder.
The other key point is they are slow! A lot of the generic accountants will be working with bigger businesses paying bigger fees, this leads to a lot of the smaller clients receiving sub-par services, slower responses etc.
Why we’re different
At Bright Ideas Accountancy, we only support contractors. Our team of accountants are experts in IR35, dividend planning and VAT and will act as your HMRC agent and advise you based on your individual situation. You can speak to an accountant at any time and leave your queries or messages and we will call you back the same day! (whereas a lot of other accountants won’t be able to get back to you for up to a week). We also provide access to financial advisers who can help with pensions and investments (see our Financial Planning page).
Summary
Don’t be tempted by the high street accountants, or make the mistake of thinking you don’t need an accountant as a contractor. Contact us to arrange a free consultation so we can show you how we can save you time and money in 2025.
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