Accounting Pro was created by contractors, for contractors. We entered the contractor accounting market as we feel we can bring a new, dynamic and customer centric approach. Here is an overview of what we do and how we try and bring value with our business methodology.
1. Contractor makes contact directly or via Agency – Email or Contact Us page on the website.
2. We establish (preferably by phone) if they are A. a 1st time contractor or B. an experienced contractor and then we share all our relevant documentation including brochures, videos, and FAQ information with the contractor.
3. If they are A. we ask them how long they intend to contract for and what their rate is. If they intend to contract short term we advise the PAYE Umbrella option. If they are on a lower rate, we advise the PAYE Umbrella option. If they want to contract for more than 1 year and they are on a high day rate we will assist them with setting up a Personal Limited company.
All along the way we offer our knowledge and experience and help the contractor select the right option for them which must be compliant and which they must understand what they are signing up for.
4. With the more experienced contractor (B. Above) who approaches us we establish what they are currently are using. If they are using a Director Umbrella structure we advise them to use another option (PAYE Umbrella or Personal Limited company) or if they are on a present compliant structure we review it with them and make sure they get the best option that works for them as possible going forward.
5. Contractors can complete their sign up via our online process which is quick, easy and GDPR friendly. We also give them access to our Client portal where they can up load any additional KYC documentation. This portal also allows them to upload their timesheets and expenses on a monthly basis and Accounting Pro can share data back like payslips, tax certs etc. It’s a 1 stop shop for contractors to send and receive their information in real time and in a secure manner.
6. We calculate all their tax. PRSI, corporation tax on a required basis and we encourage the submission of all allowable and compliant expenses. We also advise the setup of a PRSA which will reduce the tax PAYE Umbrella will have to pay significantly. For Limited company contractors, we advise an Executive Pension which can compliantly reduce their tax by up to half.
7. As well as the pension assistance we provide all the contractors with the option of discounted healthcare (via LAYA), assistance with banking (we have an agreement with BOI on this), for insurance all Umbrella contractors are covered by our insurance via Accounting Pro and for Limited company contractors we have agreements with providers to get them discounted business insurance. Finally, we also provide tax-exempt One4All vouchers of up to €500 per year per contractor.
8. We are constantly on hand to help our clients by F2F consultation, phone or email – Our attitude is we encourage our clients to pick up the phone as our business model is all about a friendly, helpful and personal service. As we have employed technology to automate our process we have more time to help our clients with the accounting and tax issues they have.
If you have any questions or need any clarifications on this methodology please do let us know. If you have recommendations on how we might improve how we provide our services please let us know. We are constantly striving to improve our service to maintain our high standards.