There are limited company contractors in the world who assume that their accountant is compliant in handling the financial affairs and ensures that the work which is being done is within the law. But the question arises that how to check if your accountant is cooperative. Here are some checks which you can use to make sure whether the accountant for contractors is compliant or not.
- You need to choose an accountant who is regulated. The one who can keeps complete tax returns, books and file accounts and can do work on the behalf of Contractor Company.
- Always remember to choose an expert accountant for contractor. If you are thinking of choosing a high street accountant who is not specialist in contractor affairs, it might happen that they will not understand the technicalities and may undertake activities leaving then in contravene of the rules and you may face possible penalties.
- Keep a check on the paperwork that your accountant delivers. There is always a limit line which a cooperative accountant would not cross. This means that no matter you are expert in tax yourself, you need to take responsibility for the contractor company, tax and financial paperwork that accountant sends you. Make sure you have gone through your tax return and ensure that all your paperwork has been completed by your accountant.
- Accountants for contractors, who file paperwork with HMRC and Companies House after passing of deadline, leading to penalties, are not cooperating properly and are not delivering services properly. Repeated late filings of the documents can lead you in a big problem, if the accountant is a member of any professional body, then you should complain about the accountant’s performance as soon as possible.
- When you are thinking of switching your accountant, ensure that the transfer will be smooth. Basically, accountants who are under professional bodies have a duty to pass all the files and records to their replacement. But all accountants are not good, and they do not make it easy to switch on another accountant. When switching to another accountant, confirm in future, whether he will behave cooperatively if you want to move.
