Accounting is an essential requirement for any Contractor, but it can be a complicated area. Not only does accounting require the careful management and lodging of financial records, but it also needs the insight to be able to stay legally compliant and avoid rule breaking and penalties.
As such, utilising a Contractor Specialist Accountant such as QAccounting can be very useful, providing businesses with an efficient, effective and compliant way to ensure their books are correct.
The UK recession has seen an increasing number of contractors attempt to handle the administration themselves, instead of having to pay for an accountancy service provider to assist them. However, there has never been a more important time to have qualified and knowledgeable support on board. New legislation on RTI (Real Time Information) or even the proposed amendments to the BET (Business Entity Test) suggested to be in the pipeline from HMRC, mean that turning to a specialised contractor accountant isn’t so much beneficial, it’s nigh on essential..
QAccounting are contractor accountants, specialising in the Energy, Renewable and IT sectors. Formed in 1999, we have helped over 6,000 Energy Professionals enjoy the benefits of self-employment. As well as offering a range of accountancy and tax solutions tailored to suit the needs of the busy freelance professional, we also provide support and assistance with aspects such as Contractor Insurances, IR35 compliance, Offshore training, Financial Planning and International working.
We are, in effect, a one-stop support service for contractors working through their own limited company.
As well as working with contractors, we also regularly support recruitment agencies and end-user clients in the areas of IR35, MSC legislation, Agency Workers Regulations and with regards to international tax matters for their contractors. Working with our own advisors, Ernst & Young, Aspire Partnership, and Qdos Consulting, we have an unrivaled knowledge and capability when it comes to all matters of contractor-related compliance and taxation.
Chancellor announces that IR35 reform will be scrapped
IR35 reform in both the private and public sectors is to be repealed, the Chancellor announced in the mini Budget, held on Friday 23rd September.
This surprise development made up just one of many welcome tax changes, as Liz Truss’s new-look government promised to start “a new era” and unleash the potential of UK business.
Why is accounting for a start-up business important?
Why do some start-ups succeed while others are doomed to fail?
It’s an often-quoted statistic that around 60% of businesses fail in their first three years – with 20% folding within just twelve months.
Why freelancers should hire an accountant
In the world of work, freelancing is an increasingly popular option. The promise of flexibility, unlimited earning potential and complete control over the way you work is a hugely attractive prospect for many.