They do say that "Tax doesn't have to be taxing", but for many contractors and freelancers in the UK it can be taxing enough to cause some very late evenings indeed. Working your way through tax legislation can add hours to your work schedule - hours that build up significantly over the year. Mistakes, however genuine, can be costly - costly enough to put you out of business. There are two basic models that most contractors use for running their businesses - Sole Trading, Limited Companies or working through an Umbrella Company. Whichever suits you, employing the services of a specialist contractor accountant is usually the most efficient way of dealing with tax and staying within the law.

Why specialist contractor accountants?

- Peace of mind: not traded on the stock markets but nevertheless a priceless commodity. Knowing that your tax affairs being dealt with by a professional takes the pressure off you and can save a surprising amount of time.

- Tax Returns: you'll need to ensure that your tax return is filled in accurately and is sent off on time to avoid penalties. The access to advice and support that a specialist contractor accountant can offer is again something that is hard to put a value on.

- Value for money: a benefit that is linked to both of the above. Neither peace of mind nor advice and support are easy to value - but specialist contractor accountants will provide a simple, affordable fee structure, which balanced against the time it can take to deal with accounting when it is not your 'specialised subject' offers real savings.

Finding an accountant

- Word of mouth can be a good way to source an accountant - you may have friends or relatives already using a specialist contractor accountant.

- For contractors it is important to be sure that the accountant has specialist knowledge of dealing with the freelance sector and check that they understand the implications of IR35 legislation for those working for themselves.

- Fee structures: Different firms offer different payment arrangements. Check and compare prices but always avoid a fee structure that is linked to your invoicing - this will create problems for you with regard to MSC legislation. Fixed monthly fees may be better if you intend to send all your paperwork in each month.

Professional help

Using a specialist contractor accountant can make a big difference for any contractor or freelancer. Many roles that you will need to fulfil when working for yourself do not require specialist professional training. However, accountancy is one area that should be handled by professionals to ensure that you maximise the amount of income you receive and minimise your tax liabilities - and most importantly that this is done within the law.

If you are looking to make self-employment or running a small business more straightforward, getting a specialist contractor accountant can make all the difference. Before making the decision take advice and consider the best options for your circumstances and your business.