New site launched to help IT contractors compare accountancy providers

Contract Eye Limited, a leading industry news provider has launched a new microsite, ITContractorAccountants.com, to help would-be IT contractors compare contractor accountants.

The new site provides a series of tips and articles on all aspects of choosing an accountant, together with concise guides to the key aspects of setting up and running a limited company.

Traditionally, the majority of IT contractors work through their own limited companies, and they often hire the services of specialist accountants to handle their company's payrolls and accounts, as well as deal with Companies House and HMRC on a regular basis.

In the late 1990s, the contractor accountancy market was dominated by a dozen firms, however the number of specialist accountants has grown massively in recent years, increasing the choice available to would-be contractors.

James Leckie, ITCA's founder, worked as an IT contractor for a number of years before running a series of industry news sites.

Leckie used his own individual experiences of hiring a number of accountants (with varying degrees of success) when creating the new site;

"Over the past 15 years, the ITCA team have used the services of nearly a dozen different contractor services providers, and we have used our own experiences to help create a series of guides to help other contractors find the right accountant without having to learn the hard way."

"The contractor accountancy marketplace has never been more crowded. Although the main considerations when comparing prospective firms tend to be price and customer service, you should not be swayed by low monthly fees alone."

Other selection factors that are detailed in the new site, Leckie noted, include if the IT contractors will be provided with a dedicated account manager, if the firm provides online accounting facilities, and if so, if these accounts are updated in real time.

Knowing if any exit fees will be assessed should a contractor decide to change accountants is also important to determine ahead of time, Leckie said, as is finding out if the accountant will include the costs of completing the director's personal tax return. In addition, IT contractors should ask what recognised accountancy qualifications the firm's key personnel holds.

Concluding, the site's founder said that contractors should ask trusted colleagues if they have had a positive experience with their own accountants, as recommendations are the most powerful factor when choosing a provider.

"Your accountant will be your most trusted advisor during your contracting career, so we hope that our series of guides can help contractors make an informed choice from within a crowded market of providers."

About IT Contractor Accountants:

The site is owned by Contract Eye Limited, an industry news publisher. The company also operates Contract Eye itself (http://www.contracteye.co.uk), and Company Bug (http://www.companybug.co.uk), a resource for limited company contractors.