London Contractor Accountants

Contractor accountants in London, without the London price tag!

If you’re looking for an accounting firm in London who will treat your contracting businesses with the kind of personalised attention that you pay to your own business, look no further.

Many contractor accountants in London will not be able to offer you the level of service and attention that Warr & Co can. That’s because we’re not a large London accountancy firm, we’re a small/medium firm who pride ourselves on treating each client as an individual.

While our firm’s home is in the North West, we’ve always maintained a presence in London for the convenience of our clients in the city. So meetings are strictly by appointment only, but our team travel to our satellite office on a weekly basis to work primarily with contractor clients in London.

So if you love working in the city but dislike the lack of personal attention your limited company receives from the larger London firms, then come to us for a free no-obligation consultation and you’ll see why we’re different.

London Contractor Accountants

Contractor accountants in London, without the London price tag!

If you’re looking for an accounting firm in London who will treat your contracting businesses with the kind of personalised attention that you pay to your own business, look no further.

Many contractor accountants in London will not be able to offer you the level of service and attention that Warr & Co can. That’s because we’re not a large London accountancy firm, we’re a small/medium firm who pride ourselves on treating each client as an individual.

While our firm’s home is in the North West, we’ve always maintained a presence in London for the convenience of our clients in the city. So meetings are strictly by appointment only, but our team travel to our satellite office on a weekly basis to work primarily with contractor clients in London.

So if you love working in the city but dislike the lack of personal attention your limited company receives from the larger London firms, then come to us for a free no-obligation consultation and you’ll see why we’re different.

Contractor Accountants In London

Typically accountants in London have expensive offices and higher than average costs. In turn, this means the rates they charge clients may be higher than average. Being money-minded professionals, Warr & Co made the decision to locate their main offices in the North West with a satellite office in London. The result is that we can pass on our personalised approach and lower than average fees to our client base in London.

We understand that if you’re looking for an accountant in London, you’re looking for convenience. That’s why we have a satellite office in Liverpool Street, just 150 steps from the Tube station. We’re always flexible and if you need to see your accountant in London on a particular day, we can usually make it happen.

Our clients in London are also offered our more personal, tailored service levels, levels you’re unlikely to find in the larger, busy London accountancy practices. Your business is not just a number on a spreadsheet to us. We take an interest in every business we work with and help you maximise your opportunities.

Our highly experienced accountancy team have always been quick to embrace new technology, so if more convenient, we’re happy to conduct meetings via phone Skype or screenshare.

Find Our London Office

Address

Warr & Co Chartered Accountants
New Broadstreet House
35 New Broad Street
London EC2M 1NH

Getting Here

Underground: Liverpool Street 2 min walk
Underground: Moorgate 5 min walk
Rail: Liverpool Street 2 min walk

Appointments

Meetings strictly by appointment only
Please call: 020 3174 1436
Complete the form above to request a consultation

Encompass For Contractors

If you’d be interested in having Warr & Co cater for all of your accounting requirements, you may be interested in our Encompass service. Encompass was developed specifically for the accounting requirements of freelance contractors – for a fixed monthly fee we can take control of all accounting, finance, taxes and VAT requirements so that you can focus on your business, secure in the knowledge that Warr & Co are looking after everything behind the scenes.

In addition, freelance contractors who opt for the Encompass service have their choice of our approved award winning accounting softwares, our Tax Enquiry Service, and access to a 24/7 business legal helpline at no additional cost.

More About Encompass

Additional Relevant Information For Contractors

IR35 Advice

IR35 Advice For All Contractors

IR35 status is something that concerns all PSCs, and affects all contractors, public or private sector. Determining and defending your outside IR35 status has never been more challenging than it is now.

Warr & Co can provide expert IR35 advice to all PSCs across all industries. We are well equipped to help you define and defend your IR35 status and always have our fingers on the pulse of IR35 legislation changes.

Learn More About Our IR35 Advice Services

Digital Bookkeeping For Contractors

MTD Compliant Bookkeeping Solutions

As most contractors earn above the VAT threshold (currently £85,000), they are required to submit VAT returns online and keep digital bookkeeping records as of April 2019.

That’s why Warr & Co have developed good working relationships with the best cloud bookkeeping services available on the market. We currently have five recommended solutions, many of which are suitable for contractors, and we’re always more than happy to advise on the best solution for your unique set of requirements.

Take A Look At Our Recommended Bookkeeping Solutions

Professional Indemnity Insurance For Contractors

What Is Professional Indemnity Insurance?

Professional indemnity insurance is the most important type of insurance that your business should have if you are a freelancer or contractor. This type of contractor insurance protects you against claims made by clients.

Professional indemnity insurance will cover you and your business from the everyday risks that can come with being a self employed contractor or freelancer. Imagine a mistake has been made in a project you’ve completed in the past. Now imagine the costs that are potentially applicable in correcting that mistake and the loss your client could have incurred as a result – the bigger your client, the more you could potentially be liable for.

While it’s worth noting that these cases are rare, they do happen every year. Without professional indemnity insurance, you and your business are at huge risk with every new contract you undertake. Insurance is an affordable and tax-deductible safety net for your business.

Why Do We Recommend Professional Indemnity Insurance?

If an occasion should arise where you and your client enter a dispute over an error made, work standards, or expectations, your business needs to be protected from a potential claim. It’s worth noting that even if you are in no way at fault, a claim could still be made against your business – resulting in you having to defend yourself at your own cost.

Professional indemnity insurance protects you from some of the costs associated, which is why the team at Warr & Co believe this is an essential requirement for your contracting or freelance business.

Warr & Co have teamed up with Caunce O’Hara, freelance and contractor insurance specialists, to offer professional services to our client base. Caunce O’Hara, a top 100 independent broker, were selected by our board of directors for their expertise in the freelance contractor market combining decades of specialist experience. In addition, the team at Caunce O’Hara provide a 24/7 easy purchase option. Simply fill your details in to obtain a quote and click to begin your policy.

We can’t stress enough the importance of protecting your business with professional indemnity insurance. Please click the link below to visit Caunce O’Hara for a free no-obligation quote now.

Get A Quote From Our Recommended Suppliers*

*By clicking the link above you understand that you will be directed to a third party website. If you choose to proceed to purchase insurance products from Caunce O’ Hara, Warr & Co will receive commission for your purchase, and by clicking this link, you agree that Warr & Co Limited may retain this. For example should you purchase a professional indemnity insurance policy for £200 (net of IPT) Warr & Co would receive £15 as commission.

Tax Enquiry Service

What Is A Tax Enquiry?

A Tax Enquiry is an HMRC investigation into your businesses taxes. Often this is not a simple process; the investigative team from HMRC may want paperwork and face-to-face meetings to discuss your business taxes.

Anyone can be subject to an HMRC enquiry, and you must comply by law. They can target any business they wish to and do not have to have a reason to target your business, meaning that they can open an enquiry even if you’ve done nothing wrong.

This is troubling for businesses, and especially small businesses. The cost of defending your company in a tax enquiry with HMRC is significant and can easily run into thousands of pounds, in addition it’s not unusual for enquiries to last months or even years. So you need a good accountant on your side to defend you and ensure no errors are made on your behalf throughout the investigation.

What’s Included In The Tax Enquiry Service?

Warr & Co will deal with all HMRC correspondence on your behalf, we will prepare and defend your case, and we will negotiate the best possible outcome for you wherever necessary.

Did you know? Even if you are not at fault and have had no errors in your business taxes, the costs of defending your business in an HMRC enquiry are not refunded. Unfair, yes, but that’s exactly why this add-on service is highly recommended to all of our business clients.

For one small annual fee, your business is covered in case HMRC decides to open an enquiry for your business. Whatever the outcome, you’re safest if you have our Tax Enquiry Service on your side.

We have plenty of information, including a downloadable leaflet about tax enquiries and pricing for this service, on the link below.

Learn More About Our Tax Enquiry Service

Contractor FAQs

Q. What fees do Warr & Co charge for contractor accounting services?

A. We have a few payment options on offer to contractors. Firstly, we offer a tailored service in which you pay only for the amount of work necessary. The exact amount charged will depend on the services a client requires, but a contractor who maintains reasonable records, has a turnover under £100,000 and who draws a salary once a month from his company will pay, on average, £775 plus VAT for his annual accounts and £15 per month for payroll services. Extra charges will be made for other services that may be required such as completing VAT returns.

Secondly, we offer a monthly payment plan called Encompass, fast becoming the most popular option for contractors and SMEs. Encompass includes a wide range of services that we believe will be of benefit to your business. These include: access to your choice of cloud bookkeeping software at no extra cost, quarterly VAT returns, dividend documentation, accounts submission to HMRC & Companies House, Corporation Tax, Tax Enquiry Service, payroll (up to 2 employees with options to add more), auto enrolment, company secretarial services, annual return, registered office service, references and access to a 24/7 business legal helpline. For only £125+VAT per year Encompass often offers the best value in the long run for contractors and consultants. If you’d rather not spend your time on business admin, then Encompass is likely the best choice for you.

Q. What work do I have to do and how long will it take me?

A. We want you to deal with all aspects relating to you billing for your services and we want you to regularly record your financial transactions. We also expect you to retain prime accounting records such as bank statements and receipts. We can then help you with PAYE and VAT as necessary during the year. Most of our clients handle their own VAT but ask us to deal with PAYE. Your work on administration is likely to take about 1 hour per month.

Q. Will I have to file a tax return and, if so, is this something that you can help me with?

A. At present, HMRC require directors to file self assessment tax returns. Because you become a director when your company is formed, you will need to file tax returns. Many people starting a company already file tax returns and for most the process is not complicated. Nevertheless, about 70% of our clients ask us to assist them in this respect and we are pleased to do so. The fee for a straightforward tax return is typically around £200 plus VAT.

Q. How do I form a company?

A. By far the cheapest way of doing this is to do it yourself at companieshouse.gov.uk. The fee is just £15. Alternatively we can do this for you. We charge £150 plus VAT, and we provide advice on the share structure and provide statutory records complete at day one. We also then assist with your first VAT return at no extra charge. Here’s the form you need to complete if you’d like us to form your company for you.

Q. Should I involve my spouse or partner within the company?

A. This is ultimately for you to decide, but we will discuss this with you from a tax planning point of view and explain where appropriate the tax advantages of that person being a director, employee and/or shareholder.

Q. What if HMRC opens an enquiry into my accounts or tax returns?

A. This does happen from time to time and we know how stressful it can be – unfortunately tax enquiries are becoming more frequent. It can take many hours to compile the information and documents that have been requested, and many more to deal with the follow-up questions that HMRC will typically ask about a case. In addition, you may need your accountant to attend meetings with tax inspectors in order to settle the investigation. The costs of all these activities are your responsibility, even if you did nothing wrong in the first place and the case is settled in your favour.

Due to these factors, and taking into account that a tax enquiry could cost you upwards of £5,000 to completely resolve, we have introduced a Tax Enquiry Service into our service portfolio. One small annual fee will cover all of Warr & Co’s potential charges for an HMRC tax investigation. Read more here.

Please note, if you are a Warr & Co ‘Encompass’ client, the cost of the Tax Enquiry Service is included in your monthly fees and you are automatically covered, no need to sign up.

Q. What if I decide that your services aren’t right for me and I want to switch to another accountant?

A. Obviously we hope this doesn’t happen but if that is what you do decide, we won’t stand in your way and won’t try to bill you for any work not yet done. We will cooperate with your new accountant by providing all the handover information he requests in a timely manner.

Book A Free Contractor Accounting Consultation Now

by specialist contractor accountants

Relevant Accounting Services For Contractors In London

Encompass

Contractor Accounting Client Testimonials

“Warr & Co have been my accountants for a decade and I have unhesitatingly recommended them to many of my friends and colleagues. Not only are the whole team unfailingly fast, efficient and personable, but Tim’s counsel has been sage and his patience endless every time I have needed some advice.“

Simon Hall, How Lovely Ltd

“Warr & Co have been my accountants for many years and are always professional and personable, going that extra mile to deliver a service to suit me. I would recommend Warr & Co to anyone needing a top notch accountant/accountancy firm to maximise profits and minimise exposure.“

I. Ranson, Ranson Associates Ltd

“Warr & Co are first class contractor accountants who genuinely understand the needs of small consultancies like Yukon Solutions. As well as providing all the expected accountancy services, Warr & Co have supplied excellent ad-hoc advice on matters such as financial planning and regulatory changes.“

John Williams, Yukon Solutions Ltd

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