IT Contracting - Financial Providers?

8

8courtview

Guest
Hi,
I am considering a return to IT contracting this year after many years in a permanent role.
I have lost touch with the contracting game and am hoping that I can get some advice around financial services availlable to contractorsf rom those who are currently working in contracting roles or have been contracting recently.
When I contracted previously I used an accountant to return a set of accounts for me to the companies office on an annual basis and I think it used to cost IR£1200. Is this what most do and what kind of costs are you incurring. I also know there are services out there which contractors can avail off to look after the financials on a monthly basis. Do people see value in this or is the accountant route a better option.

Regards
8courtview
 
Use an accountant myself at year end and spend about 1500 on it. There are other threads on here about umbrella companies and the like. PM me if you want any specific detail.
 
Just did a quick poll amongst several IT contractors in the office to see what theyre paying. Lowest was 1100, highest was 1800. So average is about 1500e per annum alright which includes getting set up for VAT. All say its worth it.
 
Thanks for the responses guys. A budget of 1500 should cover accoutants fees so. I think I prefer that route to the umbrella company option.
 
Would anyone like to recommend firms that they use or have used in the past who provide accounting services to IT contractors? I want to approach a few for quotes.
 
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