on contract and looking for accounting company

Aseth

Hi,

just started a contract job[my first contract one] and was told by manager I have to have my own company set up[???] and pay some sort of accounting agency to do all the tax/accounting stuff. Honestly never done it before and not really understand what is it all about
The one I was advised to sign up with is cxcglobal. Are there any other companies in Ireland[as I heard cxc is quite expensive] and are they any better?

thanks for all suggestions

ircoha

Aseth wrote: »

Hi,

just started a contract job[my first contract one] and was told by manager I have to have my own company set up[???] and pay some sort of accounting agency to do all the tax/accounting stuff. Honestly never done it before and not really understand what is it all about
The one I was advised to sign up with is cxcglobal. Are there any other companies in Ireland[as I heard cxc is quite expensive] and are they any better?

thanks for all suggestions

To appear professional with your current manager u had better get on top of this pronto and stop whinging. It seems that the way he wants it done and if u arse about he will just get the next guy or gal in the queue. Managers in these situtations will tell u once and once only what they expect. They are not in the 'hand-holding' business

You heard they are expensive: did u not bother to look at their site?
here is the link to the faq's FREQUENTLY ASKED QUESTIONS in case it is just too much for u to type it in.
http://www.cxcglobal.ie/faq.php

Just looked at cxglobal and it seems to me that for 5% they are giving u great value and service.

Ignoring the 300 euro invoice cap the fee is 5% , so on the basis that an accountant will charge about 2500 plus vat just to do ur accounts and tax
this equates to , pre vat,
a gross revenue of c 50,000

they also seem to set up ur company for u: its in the fee.

I have no experience of http://www.cxcglobal.ie/faq.php
but based on what I see, if they do all they say they do for 5% then it is superb value, as the costs are fully variable and are directly related to your turnover, with no fixed costs and no minimum term.

My advice, get with the program, and get it sorted.

MuffinsDa

Aseth wrote: »

Hi,

just started a contract job[my first contract one] and was told by manager I have to have my own company set up[???] and pay some sort of accounting agency to do all the tax/accounting stuff. Honestly never done it before and not really understand what is it all about
The one I was advised to sign up with is cxcglobal. Are there any other companies in Ireland[as I heard cxc is quite expensive] and are they any better?

thanks for all suggestions

Hi, I was actually in the same boat 6 months ago: started contracting and needed someone to sort out the legal and financial stuff for me. Some guy recommended this bloke to me: http://www.lynwood-resources.com to me and I went ahead with him, and after 6 months I'm quite happy. His rates are a lot better than cxc and service far superior and more tailored to your individual needs. I suggest you give him a buzz and get a quote before going with anyone "big"!

mik_da_man

I was in the same suitation a few months ago and I decided to set up my own company.
It's pretty straight forward and you just have to look after filing a PAYE/PRSI return once a month and a VAT one once every 2 months if you are reg for VAT.
This can all be done on-line

Just keep some records on excel and if you need to use an accountant for year end accounts. There are exemptions needing an accountant for this with a single member company.

If you have any admin skills it's pretty easy and rewarding
I know I will save money.

Although it is always good to have the knowledge of a good accountant to ask questions.

If ya want anymore info let me know

Mik

Aseth

Thank you for all advice
it just looks pretty complicated if you've never done that before

mik_da_man

It can be a bit daunting. But just do a bit of reading and get advice from people who have done it before.
It's not as difficult as you would think.
I know the good lads/lassies here @ boards helped me out when I started

Mik