One of the biggest obstacles that many freelancers seem to be dealing with is sorting through HMRC tax issues when it comes to trying to understand IR35. The rules governing what can be paid in dividends and what cannot are difficult to understand and as a result many freelancers have been filing incorrectly. It is common to hear terms such as being inside IR35 or outside IR35, but few understand just what that means.
Fortunately Nixon Williams accountants specialise in small businesses, contractors, freelancers, locums and consultants so that there is no need to worry about HMRC or IR35. When looking for tax advice it is important to find accountants who understand the particular needs of small businesses and individual contractors or freelancers and this is what Nixon Williams is all about. Unlike other accountancies throughout the UK that work with larger corporations, the accountants at Nixon Williams cater to a wide range of businesses across various sectors, but especially to contractors and other small business men and women.
Not only can you find the tax advice you need on the Nixon Williams website but you will also find that there is a wealth of information available on a wide variety of subjects. If you are trying to determine what your net pay will be after taxes and National Insurance, try the user-friendly Take Home Pay Calculator. After having received tax advice from the Nixon Williams accountancy it is possible to understand just what can be claimed so that a pretty close approximation of net pay can be calculated.
With new rules and regulations continually being instituted in terms of taxes and HMRC, it pays to have an accountancy that understands the needs of freelancers, contractors and small businesses. Many of these changes are targeted towards this sector and it doesn’t take much to send up a red flag when filing with HMRC. Rather than be subject to an audit or enquiry, make sure you have sound advice from Nixon Williams accountants. As the old adage goes, it’s much better to be safe than sorry.