Why hiring an accountant for IT contractor Canary Wharf is important?

Working as a contractor in the IT jobs market is itself one of the responsible tasks. The experts in this field have to handle the individual projects and strive to provide the worthy results to their clients. In this case, it becomes difficult to look after the needs of tax and accounting. Here, the role of an accountant for IT contractor Canary Wharf becomes vital as they are the specialists who have vast knowledge in this domain.

List of core tasks an accountant handle on your behalf:

• They submit the payroll data to HMRC.
• Handle all the tasks related to HMRC like queries associated with tax or any change in personal tax code.
• Takes the responsibility of companies house correspondence such as completes the confirmation statement of your company. 
• Completes the quarterly VAT returns, annual accounts, CT600 (annual Corporation tax return) of your company. 
• All the queries related to tax affairs will be answered by your accountant.
• Planning advice in a dividend manner (although the depth of specific advice related to tax varies).

Some further services offered by an accountant:

Along with the services that are mentioned-above, an accountant provides additional services also in which some are free while others will incur you an additional cost. So, lets’ take a look at these services:

• Reviews on IR35 contract (an opinion or advice on the status of IR35 contract)
• Take care of your bookkeeping on a regular basis while entering the details of everyday transactions so that you can invest your time on other important activities of your business.
• They provide service of personal self-assessment tax return completion and you know that this service is not chargeable as it is a personal service that cannot be reclaimed.  
• Focus on the registered office address provision. It means that complete official work will go directly to your accountant and not at your home address.
  

These are some of the tax and accounting services that are provided by an accountant in Canary Wharf. The key point is that the number of accountants is available and selecting the best one is very important if you really want to reduce your last minute nightmare that you mostly face with tax and accounting. So, bear these points in mind while making a selection of an accountant:

Experience

Firstly, they should be specialist that knows each and everything about your accounting life-cycle. It is true that a person can become expert in accountancy only by gaining experience.

Monthly fee

Not always necessary that by paying more; you will get the best service. Pay to that accountant who deals with each and everything, i.e. from Companies House to payroll of your company. So, find an accountant who charges less, but offers satisfactory service.

Technology

Due to the advancement in technology, online accounting systems have made the life of an accountant easy and simple. Your accountant must be able to use the software for getting their job done at right time.

So, choose right Accountant for IT Contractor Canary Wharf and ease your burden of handling tax and accounting.