Fixed-fee accounting packages are perfectly suited to freelancers and contractors
Whether it’s ensuring tax compliance, offering important financial advice or taking care of your everyday accounts, the benefits of engaging an accountant, are there for everyone to see. So to help you weigh up the type of accountancy service that you need, in this article we’ve taken a look at the advantages of buying accounting packages.
While a high-street accountant, for example, might invoice you every individual service and piece of advice they provide, accounting packages typically come with the benefit of unlimited support. Aside from saving you a considerable amount of your hard-earned money, knowing you can pick the phone up to a trusted contractor accountant as and when you need to and not incur extra fees is invaluable.
360° accountancy service
Accountancy packages are one-stop-shops for all your accounting needs. In addition to unlimited support, a contractor accounting package might include services such as; company formation and business bank setup, bookkeeping, payroll, expenses, company taxes and VAT returns and business insurance. Some contractor accountants, like QAccounting, will even throw in self-assessment as part of the monthly fee, saving you anything in upwards of £100 every year.
So to recap, with an accounting package you’ll receive a 360° service with everything under one roof.
Crystal clear pricing
Buying a contractor accounting package gives you total price transparency, not to mention value for money. By paying a fixed monthly fee for all your accounting needs, you’ll know where you stand financially and have greater visibility of your overheads as a business. In other words, there will be no shocks at the end of the month.
When it does come to paying, there’s no need to request and settle invoices manually either. More often than not, accountancy packages are paid for by direct debit straight from your business bank account.
No strings accounting
Whereas some accountants might try and tie you into lengthy agreements, many accountancy packages have been designed specifically with the needs of contractors. They tend to offer short notice periods, taking into account that contractors want and need flexibility. All in all, accounting packages are well suited to freelancers and contractors. From taking care of your tax responsibilities with minimal fuss, to offering great value for money, a well-designed package will offer you peace of mind and allow you to get on with what you do best.
Here at QAccounting, we’ve been supporting contractors for over 20 years. As one of the leading contractor accountants in the UK, we offer a range of trusted services and IR35 solutions through our partner, Qdos Contractor. To learn more about our flexible accounting packages, which start from just £95 per month + VAT, please request a callback and one of the team will be in touch.
Further Economic Support
On Sunday 31st October 2020 the Government announced a number of updates to existing economic support measures. The full details of these measures are reported HERE (https://www.gov.uk/government/news/furlough-scheme-extended-and-further-economic-support-announced ).
Updates to the Job Support Scheme
The Government has published detailed information about the scheme HERE (https://www.gov.uk/government/publications/the-job-support-scheme/the-job-support-scheme )
Accounting for Limited Company Property Investments
It can be a complex decision for clients when it comes to determining how best to utilise existing Contractor Limited Company funds in a Property Investment Company