Britain's self-employed might benefit from speaking to independent financial advisers (IFAs) to ensure their fiscal wellbeing is looked after.
According to Informed Choice, those in business for themselves would do well to take on the services of a wide range of professionals.
A Financial Services Authority (FSA) regulated IFA could help ensure businesses stay on the right side of the law in their economic dealings.
Meanwhile, Informed Choice managing director and chartered financial planner Martin Bamford noted that bosses should look for guidance from accountants, financial planners and solicitors.
"Most self-employed people work with an accountant as a bare minimum, to help them to keep adequate financial records, prepare annual accounts and calculate tax payments," he said.
"A financial planner can help those becoming self-employed to understand the cost of living, which in turn can inform business goals and also the replacement of any lost employee benefits with individual arrangements."
The expert added that a solicitor can help with legal advice and can draw up contracts where needed.
Posted by Claire Robin