Looking to go into IT Contracting - Accountant

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Conshine

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I am currently a salaried employee in full time employment in the IT industry.

I am considering going into IT contracting business, in the same line of work, and want to get some advice.

I am planning to set up my own company, rather than going through an umbrella company, as the agent will take a big cut.

I understand that I need to get the company set up and there is a cost of around €400.

I would need to find a good accountant - What do I need to look for here? Are there certain types of accountants that deal with clients like me? What would be the cost for a consultation? I would have a thousand questions on this, so would like to meet face to face.
What is their annual fee to complete my tax returns?
I have been told that there are some accountants that know the "system" very well and some do not - Naturally, I would be looking for one that understands how I can make the best of this.

Thanks!
 
Ideally, you should ask friends/colleagues in similar positions whether they can recommend their own accountant. Talk to them about their own experiences and use this as a starting point in sourcing an accountant.
 
Sure, that would be logical, but the only people I know that are in IT contracting are working with me now, and I dont want people to know that I plan to do this. I am only in the initial stages of thinking about this, I just want to get groundwork done before comitting to anything.
 
Be aware that many larger IT organisations will not directly employ contractors but insist they come in through agencies to ease the administrative burden.
 
Ok, good point.. I was still going to use an agent to find work, but was thinking that the agent would only get a finders fee or something, rather than a monthly cut.

I was thinking that if I do it as my own company, it would work out financially better.
 
Conshine said:
Ok, good point.. I was still going to use an agent to find work, but was thinking that the agent would only get a finders fee or something, rather than a monthly cut.
Click to expand...

That's not really true. What happens is you invoice the agent every month. They add their cut and invoice the client. Umbrella companies are different from recruitement agents (normally).
 
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