Welcome to Acconomy
Finding the right Accountant can be hard work. You want to be able to talk to someone who knows your industry inside out, someone who is qualified and has a wealth of experience in dealing with contractors and freelancers.

Look no further, Acconomy is a PCG Accredited, specialist and highly experienced firm of Chartered Certified Accountants; we know what's best for your contracting business.
 

Advantages of Contracting And Freelancing

It is true to say that the decision to become a freelancer or contractor is not always the individual's decision. In modern times working on a contract basis is not always an option to economic reality.

Having said that there are clear advantages to being master of your own destiny. In theory you can choose what periods of the year you work and those you don't.

You may well decide that having your own limited company is the right way forward. There are many advantages of running your own limited company including greater take-home pay through employing a contractor accountants to provide proactive tax planning and having the ability to legitimately claim many expenses not available to an employee.

There is a misconception that running your own limited company creates a lots of additional work. In reality however we handle the annual company return, corporation tax computations, all monthly accounting requirements and tax planning. Therefore other than signing a number of free prepared documents there is absolutely no additional burden to running your own limited company.

Based on this misconception many contractors and freelancers opt for the umbrella company route unfortunately for them this negates all the pair advantages previously mentioned. You can see a clear example of this in our limited company versus umbrella case study.

Many people feel that to be truly part of an organisation they must be an employee with a clear career path. However the majority of modern employers see the benefit of looking after contractors as if they were their own employees. This means that contractors will often receive training and career advancement opportunities very much in line with very employed counterparts.

Over the past few years contractor pay has accelerated far faster than general employee rates. The reason for this is that as a specialist freelancer or contractor your specific skills are paid for accordingly. Of course you are expected to deliver on time every time and whilst this creates pressure in the long run there is a distinct advantage to having successfully completed many clearly defined assignments.

Working on a number of different projects and in differing locations can add dividends transferable skills that of course will make you more employable in the future.

Travel throughout the UK and abroad is often an option for the more experienced contractor. The industries employing contractors tend to be spread across the world and there is therefore a very realistic opportunity to work within and enjoy other cultures while still enhancing your career prospects.

Do not be daunted by the prospect of becoming the first time contractor. If you seek professional help at an early stage you will come to realise that many of the issues that would otherwise prevent you taking this path are easily solvable.

We are happy to give advice at any stage of your career please do not hesitate to contact our team of contractor accountants or freelancer accountants us if you feel we can be of assistance