Award winning national contractor accountants, SJD Accountancy has been recognised as the Best Contractor Accountant by visitors to leading contractor site ‘Contractor UK’.
Contractor UK is the UK’s largest and most respected site for the IT contracting community. Their annual poll allows contractors to vote for the best supplier in various categories who have delivered the highest standards to their clients throughout 2013.
The win comes at a time when SJD Accountancy announces a record-breaking year with its client base exceeding over 13,000 limited company contractors, freelancers and interim managers.
As well as the Best Contractor Accountant accolade, SJD has previously been awarded Accountant of the Year by The British Accountancy Awards, twice winners of the Accountancy Age Awards for Accounting Excellence and recognised with two national Customer Service Awards by the Institute of Customer Service Customer Commitment award and Best Professional Team of the Year in the UK Customer Experience Awards.
Claire Johnson, Managing Director at SJD Accountancy comments, “We are delighted to have won the Best Contractor Accountant Award. The secret of our success really is simple – a dedicated commitment to providing the very best tax and accounting advice to our clients, expert customer services and an in depth knowledge of what our clients really want from their accountant. These are the pillars on which we will continue to grow the business going forward into 2014 and beyond.”
SJD Accountancy is listed as the 32nd largest accountancy firm, by the Accountancy Age Top 50 annual listing. Their unique unlimited face to face meetings for both potential and existing clients and all-inclusive fixed fee accountancy package are what give SJD the leading edge in their market.
“SJD Accountancy outperforms the market time and time again,” said Anthony Sherick from Contractor UK. “They set the standard within the contracting industry for accountancy services and constantly strive for the best service possible, listening to their customers and evolving with their feedback. They are worthy winners for this category.”
Here Claire Johnson, Managing Director of SJD Accountancy, gives her advice on why it makes good financial sense to have an accountant and what to look for when choosing one.
What will an accountant do for you and how do you choose the right accountant for you?
So what are the benefits of having an Accountant?
Many contractors believe that the only time they need their accountant is at the end of their tax year so they can check their tax return is correct and to submit their end of year accounts. However, a good accountant will not only make sure you don’t miss your tax deadlines and submit your accounts, but also ensure your tax submission is accurate and advise you on any tax allowances you might be eligible for, saving you more of your hard earned money.
This is just a taster of what a good contractor accountant can do for you:
Saves you time – In a 2013 survey carried out by HM Revenue and Customs, there was an increase of over 40% of people completing their self-assessment on Christmas Day! If you’re spending valuable down time ploughing through your accounts, or even more importantly sacrificing work for fear of not getting your tax return done on time, then the time you’re spending on your accounts is actually costing you your hourly rate.
Completing your forms correctly – Statistics released by HMRC in 2013 saw over 730,000 small business owners submitting their tax returns late for the 2011/2012 tax year, generating a staggering £73 million in late payment penalties. This doesn’t include the companies that incurred charges for their tax return being completed incorrectly… which could range from a £100 fine to £900! Using the services of a good accountant means you can be assured that the right forms will be completed, at the right time and in the right way.
Tax saving advice – Completing the forms correctly is one thing, but doing so in a way that will save you money is another! A good accountant will make sure you are aware of all of the legal ways to minimise your tax bill. They will also make sure that you take full advantage of the ever-changing tax laws, so that you always pay the right amount of tax, and this ‘tax planning’ service is one of the biggest benefits.
An accountant will work with you throughout the year to offer advice that allows you to operate the business in a way which gives you the biggest tax advantages. They will also work with you to develop an exit plan, again maximising all tax allowances.
How to choose a great accountant
What should you look for when choosing an accountant? Ask yourself. . .
Do they understand your business? – It seems an obvious question, but making sure you choose an accountant that understands contracting, freelancing and small limited company business affairs, they are very different from larger limited companies.
An example of this is IR35, which was introduced by the Government to ensure that small companies, especially contractors and freelancers, operate their own limited company in the right and proper manner, including having the same level of risk, responsibility, liability and control that other directors of limited companies have. Having an accountant who understands IR35 means they can advise you on this legislation, explaining it in plain English and how or if it could affect the amount of tax you are paying.
Who is my accountant? Some accountancy firms offer you an account manager or one number to ring where you will be required to speak to a different person each time, explaining each time your business in detail and the query you have. So consider how much time and effort you will spend speaking to each person? All clients of SJD are allocated their own dedicated accountant, one person, for all their accountancy needs. This will give you a certain level of comfort and reassurance to know that if you don’t understand something, or if you have any concerns, you can talk to ‘your’ accountant who already understands your business.
Where is my accountant based? In today’s virtual world, being near a wifi hotspot could be the most important business consideration. However, when it comes to talking through tax, things suddenly start to become more complicated and sometimes only a face to face meeting will do.
Over 50% of all SJD clients meet with an accountant each year. We have offices and meeting locations around the UK to make it as flexible as possible for our clients to meet with their accountant. This is all included in SJD’s fixed fee package, at no additional cost.
Remember, paying for a good accountant will be a cost, but it is a cost that will benefit you in the long run and allow you to get on with what you do best – running your business.
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