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Specialist accountants advised for contractors

07 August, 2009

Contractors who are entrusting their affairs to non-specialist accountant firms may find themselves facing large HMRC fines, and perhaps even being placed on a credit blacklist.

A recent survey revealed that contractors need to careful when getting advice as many of the mainstream accountants are not aware of, or lacked detailed knowledge of, contractor-specific legislation and compliance issues such as IR35 and Managed Service Company legislation.

The survey also suggested that many of the high street firms also had a worryingly vague attitude to the need for compliance with the legislation.

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