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NHS contractors -Top five tips

Top 5 tips for NHS Contractors.


>>Nimble Jack Accounting has dealt with many contractors, freelancers and small business who supply services to the NHS. Clients range from locum doctors, I.T analysts and vascular scientists.

Recently Alyx Peteres who is the vice chair of REC (recruitment employment confederation) has stated that the NHS contractors play a major role in getting the NHS back on track as they provide increased flexibility with specialist skills.

Also more recently IT contractor have been said to be missing out on as much as 7% on their day rate, survey compiled by max20.

However, the NHS workplace has become an increasing difficult environment to operate in with, government cutbacks and increases administration, trying to run your own limited company which supplies service to the NHS can be a added burden. However, we have provided our top 5 tips.

1.Get your contract reviewed to see if you fall within or out of IR35, which is government legislation. We can take care of this for you. To date we are on of the leading NHS contractor accountants.

2.Spend 5 minutes a week updating your bookkeeping. This habit can pay amazing dividend, in terms of being on top of your finances. On all of our packages we offer an award winning bookkeeping tool for free.

3. Save for your corporation tax. This is key as we find alot of our NHS contractors  who run their own limited company run into problems when they are not putting aside their corporation tax bill which is due 9 months (check) after the year end date.

4. Register on flat rate scheme and save up to £3000-4000 a year! For more information contact your accountant or give us a call on 020 7969 2879

5. Network. Yup its true, you need to ensure that you are  on good terms with all your line managers and even the staff beneath you. Also get to know the key decision makers in HR.  As BT once annoyingly said, it good to talk!

If you need more help, talk to one of our friendly accountants for an impartial chat on 020 7969 2879

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About Hardeep Mangat

Hardeep is a down to earth accountant, who loves helping contractors, freelancers and small businesses save tax and make more profit. He also has a particular interest in IR35 . Hardeep attended University College London and is a Chartered Certified Accountant, who previously worked for Credit Suisse Investment bank and at a local accountancy practice.

Hardeep on Linkedin and Google+

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