England – 07/11/2011 – Despite the recession accountants for contractors are being kept busy
In a recession you would expect every sector of the working population to suffer and to find getting work difficult and this has certainly been true with the current recession. With the self employed struggling to find work as well as those employed as regular employees, in both the private and public sector. So it is strange to see demand of the services of accountants for contractors getting stronger rather than weaker. After all if contractors and freelancers are struggling there must be less of them, so logically speaking demand for contractor accountants should be shrinking, not growing.
Why accountants for contractors are more in demand is a bit of a mystery
Exactly, why there is suddenly more demand for accountants for contractor is a bit of a mystery. There are several theories, but the most popular is that it is the unstable working environment that is leading to this increase in demand.
Growth in the number of people in the UK working as freelancers or contractors is occurring, in part, because employers can no longer afford to employ permanent long term employees. Strictly speaking, it is illegal to make someone redundant one day and employ a temporary contractor to do the same job the very next day, week or month. However, there is plenty of evidence to suggest that sometimes this is exactly what is happening.
Add to that the fact that many people who would have previously waited to be offered a permanent job are now taking jobs as contractors rather than remain unemployed and you have a ‘perfect storm’. The result of this is that more and more people are joining the ranks of contractors or freelancers. All of these people need the help of a specialist accountant to complete their taxes and avoid falling foul of the infamous IR35 legislation.
There is so much demand for accountants for contractors that long established firms like www.freelancersandcontractors.co.uk can barely keep up with demand. They have also experienced more established contractors and freelancers coming to them, instead of doing their own taxes and accountants, as the government ups the number of tax inspections they carry out.
Freelancer & Contractor
Tel: 0161 838 1818