Ltd Company setup/accounting for IT Contractors

gibson_lp

Morning all,
I am about to start IT contracting for the 1st time, most likely within Europe, as its proving rather difficult to get anything permanent. I'm aware I should set up a limited company before I start working, so was looking at some Professional Accountants for contractors.
Does anyone have any advise or experiences regarding the right one to choose ? One company that I was recommended was www.cxc.ie (they're charge is 5% pm or eu300).
Many Thanks..

viztopia

you could try www.waverock.ie which is a relativley new offering. they offer better rates than their competitors and they offer a very good deal for start up companies. they came to me recommended by a colleague and i have found them good.

speakswan

Hi I would recommend Accounting Plus. I switched from www.cxc.ie where I found that I was just been fed through an 'accountancy machine' and I was just another client for them to bill and found it impossible to get any proper tax advice for both me personally & my company.

With Sean he was always on the other end of the phone and willing to give pragmatic answer to my problem and he never billed a quick question that had a quick answer. He knows his way around that tax system and he saved us a fortune on tax.

If you would like his contact details please pm me.

Fionn101

Hiya,

As an I.T. contractor for the past few years
I use this bloke that I met through boards.ie

http://www.boards.ie/vbulletin/member.php?u=27405

He's on the ball and gives you prompt replies, service is excellent and the rates are half what your being quoted at the minute. can't say enough good things , I have never had a tax, V.A.T. or business advice worry since we met.

hope this helps

Fionn

CXC

speakswan wrote: »

I switched from www.cxc.ie where I found that I was just been fed through an 'accountancy machine' and I was just another client for them to bill and found it impossible to get any proper tax advice for both me personally & my company.

Hi SpeakSwan,

Can I ask did you mention your concerns to one of our staff? Your tax queries should have been answered promptly and in detail as we have many tax experts in-house. If you would like to contact me regarding this, I would be more than happy to discuss any issues that you had with the service, as we are continuously trying to improve our service.

gibson_lp wrote:

One company that I was recommended was www.cxc.ie (they're charge is 5% pm or eu300).

In response to your post what I can say is that we offer a number of financial solutions which can be tailored, so it is possible that our charge to you could be reduced based on your individual circumstances and requirements. Please contact me via PM or give the office a call if you would like to discuss your requirements.

MisterCrown

gibson_lp wrote: »

Morning all,
I am about to start IT contracting for the 1st time, most likely within Europe, as its proving rather difficult to get anything permanent. I'm aware I should set up a limited company before I start working, so was looking at some Professional Accountants for contractors.
Does anyone have any advise or experiences regarding the right one to choose ? One company that I was recommended was www.cxc.ie (they're charge is 5% pm or eu300).
Many Thanks..

Hi Gibson.

I wouldn't go with someone who charges by the month as that is taking the mickey. I've been contracting myself for the past few years and AccountingPlus have been great with setting up the company and taking care of the accounts. Just sent the receipts every month and didn't have to think about it again, apart from the odd query that I always got a quick response to. Saved a load in income tax, VAT and didn't have the hassle of looking after the finances myself.

I can tell you that I paid a lot less than 5%pm/300 EUR. PM me if you want the details.

CXC

MisterCrown wrote: »

I wouldn't go with someone who charges by the month as that is taking the mickey.

I don't want to take this too much off-topic, but I feel I feel I should state that CXC is a pay as you use service. Our fee is 5% of your invoice value up to a maximum capped amount per month. The cap ranges between €125 per month and €300 per month depending on the service option you choose.

So it is really down to invidivual circumstance.

gibson_lp I suggest that you put in the effort to contact all the various companies out there that provide the service that you are looking for - keeping in mind what you get for the money. In these tougher times I'm sure you'll find a good deal.

TechieEddy

I was contracting for a while through CXC and I found them expensive. Also they were unclear on what I could claim and what I couldn't claim back.
I switched to an private accountant in the end.

booooonzo

I am currently with cxc and have been for 7 months. I am finding them very expensive lately. think ive paid them well over 1500 so far and im looking to change.

Cxc who do i contact about this tailored service? i was never made aware of it?

CXC

booooonzo wrote: »

Cxc who do i contact about this tailored service? i was never made aware of it?

Hi booooonzo - I will send you a private message on this and we can take it from there.

T-Square

gibson_lp wrote: »

One company that I was recommended was www.cxc.ie (they're charge is 5% pm or eu300).
Many Thanks..

You'll probably end up working for one client for 3 months, maybe 6.
So are you really willing to pay 300 to a bean counter each month to send out a single invoice?

If you were a medical consultant with 10 clients a day, yeah, 300 a months makes sense, but pay someone to send out one invoice, 300 smackers?

T-Square

speakswan wrote: »

Hi I would recommend Accounting Plus. I switched from www.cxc.ie where I found that I was just been fed through an 'accountancy machine' and I was just another client for them to bill and found it impossible to get any proper tax advice for both me personally & my company.

With Sean he was always on the other end of the phone and willing to give pragmatic answer to my problem and he never billed a quick question that had a quick answer. He knows his way around that tax system and he saved us a fortune on tax.

If you would like his contact details please pm me.

Asking people to pm you is a bit pointless, just post the contact details.

Axwell

That would be seen as advertising on boards which he probably would want to avoid if he doesnt want a slap on the wrist

T-Square

fair point.
However earlier in the thread someone linked to a guys profile, same thing, advertising.

Axwell

He just recommended someone, thats not advertising. Advertising is posting contact details or offers, prices etc for your own business. See the charter.

JoeTurner

T-Square wrote: »

You'll probably end up working for one client for 3 months, maybe 6.
So are you really willing to pay 300 to a bean counter each month to send out a single invoice?

300 seems excessive but you should insist the following is included in any fixed monthly fee payable:

- annual accounts preparation
- filing of annual return with Companies Registration Office
- payroll processing and provision of payslips
- payroll tax returns (P30 monthly, P35 annually)
- VAT returns (bimonthly initially)
- year end personal tax returns for directors of company
- monthly management accounts with details of existing assets / liabilities etc
- advice / assistance in areas of tax planning (pension, profit extraction, minimising taxes etc)

It's more than sending out an invoice once a month....

churrusco2

I've been one year with CFO Services (http://www.cfoservices.ie) and I would definitely recommend them.

They have been very helpful and I always had promptly responses to any doubts. Also as JoeTurner mentions, make sure that if you pay, they provide you any real value. Put special attention here to company wind up costs in case you need to close your company. Many companies do not mention the closing down process and then they try to charge you extras when is time to close.

Good luck.

T-Square

JoeTurner wrote: »

300 seems excessive but you should insist the following is included in any fixed monthly fee payable:
.

Hello JoeTurner, you were recommended earlier in the thread.
How much do you charge?

T-Square

churrusco2 wrote: »

I've been one year with CFO Services (http://www.cfoservices.ie) and I would definitely recommend them.

They have been very helpful and always promptly responses to any doubts. Also as JoeTurner mentions, make sure that if you pay the provide you any value, and put special attention here to wind up costs in case you need to close your company, as many companyes do not mention it and then try to charge you extras.

Good luck.

And, how much do they charge?

JoeTurner

T-Square wrote: »

Hello JoeTurner, you were recommended earlier in the thread.
How much do you charge?

Hi Tsquare

Sent you a pm with some more info -I don't want to get into trouble for advertising on the boards!

Feel free to pm me back if you need any more details...

Thanks

Joe