WHO WE WORK WITH
Accountants for Locum Vets
They don’t teach a huge amount about tax deductions, or VAT registration at vet school, and while we cannot easily diagnose gum disease or ear infections, we do know a lot about tax and accounting.
As a locum vet working through your own limited company, choosing the right accountant is an important decision that will help set-up your future financial success. Of course, finding an accountant who understands the specific needs of your business and can provide you with sound financial advice is vital to this success.
One thing we commonly hear from our locum vet clients is how straightforward our advice is, that it is easy to understand, and that the support we offer allows them to 100% concentrate on working in the veterinary industry.
But how do you go about finding the right accountant for your practice? And what should you look for when making your decision? While we would love you to join our accounting service, the reality is that potential new clients will shop around before choosing an accountant.
In this article, we will take a look at some tips on how to choose the right accountant for your veterinary work. We’ll also explore what to look for in an accountant, and how to ensure that you make the best decision for your business. So let’s get started!
Finding the Right Accountant
When it comes to business, there’s a lot that goes on behind the scenes – and it can be tough to keep track of it all without some help. Here are a few tips to help you find the right accountant for your team:
Do your research!
The first step in choosing the right accountant in the UK for your veterinary work is to do your research. Talk to other locum vets in your industry and find out who they use for their accounting. Ask them about their experience with their accountant, and whether they would recommend them to others. If one of your colleagues already uses No Worries then ask for the name of their dedicated accountant and call them directly. Our accountants are always happy to hear from new clients who are considering using our accounting service.
You can also search online for accounting firms that specialise in providing services to locum vets. This will help you narrow down your options and find a few firms that may be a good fit for your business. In fact, we’re hoping this article will rank in the top 10 for Google using the keywords “Accountants for Locum Vets” 🙂
While doing research, make sure to:
Read online reviews: Check out online review sites like Googleto see what others are saying about accounting firms you are reviewing. Of course we have some great Google reviews we’re happy to share on our Testimonials page.
Get referrals: Ask your friends, family, and colleagues if they know of any good accounting firms.
Check out websites: Visit the websites of different accounting firms to get a feel for their services and expertise to deal with the corporation tax, annual accounts, and payroll taxes while making sure their own limited company is registered with Companies House (in the case of Limited Companies).
Still have questions about how contracting through a limited company will work for you? We are always happy to talk!
Consider your Needs
The next step is to consider your specific business expenses as the locum vet. What services do you need from an accountant? Do you need help with bookkeeping, tax preparation, and financial planning? Maybe you have just received your first corporation tax bill and are not sure what to do with it. Perhaps you need a leading cloud-based accounting software such as Simplifi to help ensure your bookkeeping is nice and easy (shameless admission, we own Simplifi). And if you end up employing staff you have need help running payroll, and paying national insurance contributions.
Make a list of the services you need, and then look for accounting firms that offer those services. It’s also important to consider your budget when choosing an accountant. Make sure to get quotes from a few different firms before making your final decision. Anywhere between £85 to £105 + VAT per month is a very fair price, depending on what you need. Some of the very best contractor accountants provide a free company formation service, but we’re also fine if you bring your own limited company across to us also.
Here’s the breakdown of your needs:
What services do you need from an accountant?
How much can you afford to spend on accounting services?
Look for Experience
When picking veterinary accountants, it’s important to look for someone with experience in the veterinary field. This will ensure that they understand the unique financial needs of your business. Ask each accounting firm you’re considering about their experience working with locum vets. Just as veterinary surgeons prep before looking for an intestinal obstruction due to a foreign body, you should also prep for taking a new accountant onboard.
Find out how long they’ve been in business and how many clients they have in the veterinary sector. For us, we have been in business helping limited company contactors since 2005 and over that time we have helped a LOT of locum vets (and locum doctors, plus locum pharmacists).
Consider a Firms Size
Another important factor to consider when hiring an accountant is the size of the firm. Smaller firms may be more personal and responsive to your needs, but they may also have less experience than larger firms.
On the other hand, a large firm of chartered accountants may have more resources and expertise, but they may also be less flexible when it comes to meeting your needs. Consider your preferences and needs before making a decision about the size of the firm you want to work with.
For No Worries, we are a small nimble of team of accountants where each vet gets their own dedicated accountant to help with all their accounting and tax planning. We also have access to a broad network of very experienced tax professionals should we come up against an issue that we have not faced before. So is the big firm feel with the small firm experience.
Ask about Fees!
Before hiring an accountant as a contractor in the veterinary profession (and other medical professionals for that matter), be sure to ask about their fees. Find out how they charge for their services, and whether there are any hidden costs. Make sure you understand the fee structure before signing any contracts. Some of the important questions you should ask about fees include:
How much do you charge for your services?
Do you offer discounts for referring other freelancers to your accounting service?
Do you offer any fee reductions while I am not working?
Are there any hidden costs that I should be aware of?
Compare Quotes
Once you’ve gathered quotes from a few different firms, it’s time to compare them. Look at the fees, services offered, and experience of each firm. Then, make your decision based on which firm you feel is the best fit for your veterinary work.
When you’re ready to choose accountants for your veterinary business, keep these tips in mind to ensure that you choose the right one for your needs. With a little bit of research (or even after just reading this article) you will be able to find an accountant who will help your business run smoothly and efficiently. Ideally the accountant you choose has sufficient confidence in their own brand and service delivery that they call themselves No Worries or some such derivative.
Final Thoughts
After considering all of the factors above, it’s time to choose an accounting firm that’s right for you. Make sure to take your time and do your research before making a final decision. Once you’ve found a firm that you’re comfortable with, be sure to sign an engagement letter that outlines the scope of their services. This will ensure both you and the accountant know what is expected of each party. And as a plus, if you decide to use an accounting firm other than us, then we also make it super easy to change over to our accounting service from another accountant. In fact, its a such a popular thing to do that we have our own webpage for it, Switching Accountants.
Hiring an accountant is a big decision, but it doesn’t have to be difficult. By following these tips, you can be sure to find the right accountant for your veterinary work.
Are You Looking for Accountants for Locum Vets?
The No Worries accountant firm can help you find the perfect dedicated accountant for your veterinary work. We have a wide selection of certified professionals who are experienced in working with businesses like yours in the veterinary industry and use the latest accounting software. We’ll help you find the best fit for your needs, and we’ll work with you to ensure that you’re satisfied with the services we provide. Contact us today to get started!