Accounting Activities in Cullompton
40 Tiverton Road
Monday to Sunday: 9am - 5:30pm
Do I need an accountant as a contractor?
There is nothing to prevent you doing contractor accounting yourself if you understand the processes concerned and also the HRMC requirements. Contractors don't need to use an accountant in the same way that clients don't have to use contractors. However, the likelihood is that if they tried to construct a building without a building contractor they might come unstuck. It's the same with contractor accounting and tax.
A good accountant can save the contractor many, many times over the cost of their fees in applying their tax expertise so the contractor is totally tax efficient, claiming the correct allowances and only paying the tax they have to. And for many contractors, it's more cost effective to pay their accountants than lose one or two of day's value of fees each month to try and do the accounts themselves.
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