Feb
02
2011
Umbrella company contractors given bookkeeping advice
Posted by Sarah Putt
Those without the skills to keep up "meticulous" bookkeeping should seek the help of professionals, an expert has told contractors looking to work with umbrella companies.
Sara Rizk, editor of Startups.co.uk, said she believes good record keeping is "always going to be one of the most important aspects of running a business", but advised people not to struggle if they don't have the right skills and seek help.
"You just need to be meticulous about the records that you keep – you can't let anything slide. It's probably advisable to spend half a day or so each week to keep on top of it, so you're doing it as you go as opposed to having to do everything at the end of the year," she said.
Those contractors working with umbrella companies, however, are likely to have fewer concerns surrounding record keeping.
Meanwhile, around one million people are set to receive new tax demands from HM Revenue and Customs after a new computer system picked up mistakes in the department dating back to 2008.
Those without the skills to keep up "meticulous" bookkeeping should seek the help of professionals, an expert has told contractors looking to work with umbrella companies.
Sara Rizk, editor of Startups.co.uk, said she believes good record keeping is "always going to be one of the most important aspects of running a business", but advised people not to struggle if they don't have the right skills and seek help.
"You just need to be meticulous about the records that you keep – you can't let anything slide. It's probably advisable to spend half a day or so each week to keep on top of it, so you're doing it as you go as opposed to having to do everything at the end of the year," she said.
Those contractors working with umbrella companies, however, are likely to have fewer concerns surrounding record keeping.
Meanwhile, around one million people are set to receive new tax demands from HM Revenue and Customs after a new computer system picked up mistakes in the department dating back to 2008.