Why Should You Engage an Online Contractor Accountant?

The benefits of hiring a trusted online contractor accountancy

From saving time to maximising tax efficiency and ensuring compliance, there are plenty of reasons why many contractors choose to engage an accountant to help them with their financial affairs. While the advantages of a contractor accountant are largely understood and accepted by independent workers, a topic that is perhaps less well-covered is the differences in the types of accountancies to choose from. As a contractor, should you ask one of the ‘Big Four’ to take care of your tax? Do you head to the high street and take your pick from the various independent accountants or accountancy franchises? Or might it be a smart move to sign up to an online contractor accountancy that specialises in helping freelance workers?

In this article, we’ll explain why it often makes sense to ask an online contractor accountant, like QAccounting, to keep your company’s and, in turn, your personal financial affairs in order.

Greater resources

More often than not, online contractor accounting firms are bigger than the sum of their parts. By this, we mean they typically have a wide range of resources at their fingertips that you and your company will benefit from. This could include tax consultancy, mortgage advice, financial planning or investment opportunities.

Whether it’s a team of accountants who understand the biggest issues impacting this sector or discounted access to additional services, such as IR35 contract reviews, an online accountant – much like one of the so-called big accountancy firms – should have the manpower and the solutions to suit your specific needs.

A personal touch (believe it or not)

Most people want to know the person that they’re doing business with, naturally. This applies even more if it’s related to your own company’s tax compliance and financial well-being. As a customer of a respected online contractor accountancy, it’s likely that you’ll have a dedicated account manager. This person will take time to understand your business, its goals and your personal aspirations. In doing so, they will be able to provide a service that fits your exact requirements.

Greater visibility of your finances

By harnessing the latest technology and, in QAccounting’s case, developing a unique expenses app, online contractor accountants can capture your financial information in real-time. This is thanks to the emergence of cloud accounting technology, which shows your accountant live data. It means they can offer accurate advice instantly. With greater visibility, online accountants are well-placed to act proactively rather than reactively.

Complete price transparency

With traditional accountancies, for example, you might not always know what will incur a fee and what’s included in the price of the ad-hoc services you buy from them. This is in contrast to online accountancies. A trustworthy online contractor accountant should explain all costs clearly, meaning there are no nasty surprises at the end of the month. Fees will be totally transparent, with all services included in your accountancy package clearly detailed for one fixed monthly cost.


There is a saying that hiring an accountant doesn’t just save you money, it makes you money. Without doubt, as the number of freelancers and contractors continue to grow in the UK, online accountancies – that offer sector expertise, flexible packages and a 360° view of your finances – are perfectly suited to help you run a successful business.

With over 20 years’ experience in supporting contractors, QAccounting is one of the UK’s leading contractor accountants. Offering a range of trusted accountancy services and IR35 solutions, we are proud of our 9/10 customer rating. To learn more about our flexible contracts, which start from just £90 p/m + VAT and to switch to QAccounting for free, please request a callback – one of our friendly and knowledgeable accountants will be in touch.

More Blogs

How to Register for VAT

VAT is an acronym for Value Added Tax and it is a consumption tax levied on the value added to goods and services at each stage of production or distribution. Whenever a business sells goods or services, VAT is added to the sale price. For business owners, understanding the ins and outs of VAT and knowing when and how to pay it, is a huge factor in running a compliant operation. VAT impacts various aspects of a business’s financial health so it’s important to meet this obligation by managing VAT compliance at all times. This involves a meticulous approach to invoicing, record keeping and reporting. Apart from simply charging VAT and submitting regular VAT returns to HM Revenue and Customs (HMRC), businesses can also reclaim VAT paid on their purchases which can reduce their overall tax burden. In this article, we take an in-depth look at how to register for VAT in the UK.

Accounting Team

Capital Gains Tax Basics, a Complete Guide

Capital gains tax in the UK, also sometimes referred to as CGT for short, is a tax on the profit you make when you sell certain assets for more than you paid for them originally. This tax applies to a wide range of assets including real estate, stocks, bonds, precious metals and property. It generally excludes personal assets such as cars or household goods. Capital gains tax targets the gain or profit made from the asset sale, rather than the total amount received, impacting individuals, trusts, and estates that sell assets for a profit. The revenue generated from capital gains tax serves as a source of income for governments, contributing to public funding.

Accounting Team

Guide To Dividend Tax for the 2024/25 Season

Dividend tax refers to the tax levied on income received from dividends paid out by companies to shareholders. This tax applies to individuals who own shares in companies and receive dividends as a source of income. It’s important to differentiate dividend tax from corporate tax, which is paid by companies on their profits – dividend tax in the UK is the responsibility of the shareholders receiving the dividends. The rate of dividend tax varies depending on the taxpayer’s income tax band – basic, higher or additional rate.

Accounting Team