As a contractor or sub-contractor in the London area, there is a lot to take care off when you make a successful bid for a job. The building and construction sector means that you have to deal with multiple independent tradesmen on a daily basis. There is a lot that you need to be aware of and a lot that you need to keep your eyes on all the time. There is red tape to get through, various health and safety laws and many salaries to be paid. If your bid was accepted, then you have to stay within budget otherwise you will be working and making no profits. It’s so easy to get ahead of yourself and that’s why you need an accountant to keep you on the straight and narrow.
There are a number of contractor accountants in East London who can provide you with the necessary assistance and guidance to keep you under budget and in the black. Having your own accountant offers up many benefits.
- There are specialist contractor accountants that know the industry back to front and they can provide the necessary knowledge and accounting know how to keep your projects in the profit zone.
- The building industry changes all the time and regulations change also. It is important to be abreast of these in relation to your tax obligations. Your accountant will keep you up-to-date.
- Contractors receive tax breaks from the government and you need these in order to remain profitable. Your accountant realises that you need someone who is flexible and is available at short notice.
Your accountant will be there to provide assistance no matter where you are contracting and he will keep you up-to-date with how your finances are.