Do you know that a contractor has more tax benefits than regular employees in a company? There are several clauses wherein special financial advantages are given to a consultant. A good contractor-friendly accountant in Uxbridge can help expedite the process and bring in more profits at the end of the year.
So, why is it that only an expert accountant with experience in dealing with contractor accounts is the best answer for us? The reason behind this is simple. While all accountants dealing with tax planning can do the job for you, one with suitable expertise can do it much better, thanks to his or her years of experience.
Also, accountants today have become specialised in a particular field of study, and have diversified themselves as medical accountants, construction accountants and so on. The name is given about their particular area of interest, and a good contractor-friendly accountant is, therefore, more aware of what is happening in that front.
Unlike normal employment, the taxations for contractors are quite different and varied. There are benefits such as expense claim rebates and dividend splits as well as reduction of tax liabilities for contract employees. Such kind of special privileges offered to a contractor is well-known to an accountant in Uxbridge who is specialised in dealing with contractor accounts.
Knowing the in and out of IR35 legislation, and enough knowledge to provide you with an advantage over the other regular employees is what a good accountant can provide. And, this can only be given by someone who is contractor-friendly. Also, apart from helping you with saving up on taxes and planning in advance, such accountants can help raise a claim with HMRC successfully.
So, from tax saving to filing and adhering to HMRC norms, a good accountant in Uxbridge with specialisation in contractor taxes can be a perfect answer to raise your profit margin.