Freelancer Accounting Services

It does not matter if you are a freelance electrician, freelance builder, freelance finance professional, IT freelancer, freelancer, freelance health and safety advisor, freelancer writer, freelance SME or general freelancer we have the freelancer accountant and freelancer accounting package for you from as little as £20 per month.

Whether you are freelancing long term or on a short term basis, Accounting Wise can make life simple for you by helping you with your accountancy and tax requirements.

Contractor Accounting Services

Why use Accounting Wise for your Freelancer Accounting?

Online Accountant

Your Own Dedicated Freelancer Accountant

When you join us, you will receive your very own dedicated freelancer accountant. Our fully qualified and friendly team will be on hand to help you throughout the year for all your financial queries.

Leading Accounting Software

Leading Accounting Software

You are provided with leading accounting software which will help reduce the time it takes to – provide quotes and invoices to customers, chase payments, and monitor outstanding balances.

Tailored Service

Tailored Services

Tax & Accounting packages tailored to suit your business. We are always straightforward in our services & pricing. We take care of your accounting and let you get on with making your business a success.

Unlimited Expert Advice

Unlimited Expert Advice

Your dedicated freelancer accountant will always be on hand to answer any questions about your small business. You can contact them via email, phone, live chat, Microsoft Teams or meet them in person.

Deadline Reminders

Regular Deadline Reminders

We send regular automated reminders to inform you of when your accounts and returns are due to be submitted, helping to ensure you never miss a deadline for your small business again.

We currently help over 500 individuals and businesses in the UK

Included in the Freelancer Accounting Package

What is a Freelancer?

Contractor Accounting ServicesFreelancer are individuals who provide services to clients under specific terms. They tend to operate via their own limited companies and are not employees for a larger firm or business.

A Freelancer is responsible for their own ‘business’ dealings and has control of how and when they do their work. They would either be employed through an Umbrella Company for the purpose of paying them (and paying their taxes) or have their own Limited Company or be a Sole-Trader and pay their own taxes.

A limited company is a small business set up by an individual, where they provide their services on behalf of the company.

Contractor Accounting Services

Freelancer are individuals who provide services to clients under specific terms. They tend to operate via their own limited companies and are not employees for a larger firm or business.

A Freelancer is responsible for their own ‘business’ dealings and has control of how and when they do their work. They would either be employed through an Umbrella Company for the purpose of paying them (and paying their taxes) or have their own Limited Company or be a Sole-Trader and pay their own taxes.

A limited company is a small business set up by an individual, where they provide their services on behalf of the company.

Things to Consider as a Freelancer

Legal structures for freelancers – How best to Trade?

This is a question that all new freelancers ask: whether it is better to trade as a Sole Trader, through a Limited Company or an Umbrella Company.

There are pros and cons to all methods and so it’s important that you choose the right method for you. As a Sole Trader you do not have to take IR35 into consideration (as it is your customer’s responsibility to ensure you’re operating outside of IR35) and it is more tax efficient than an Umbrella Company, but less so than a Limited Company.

A Limited Company is the most tax efficient but there is a bit more work and more responsibilities compared to a Sole Trader. IR35 also needs to be considered if you have a Limited Company. An Umbrella Company is not very tax efficient but can be less hassle which can be more convenient if you only have a short term contract.

IR35

In summary, IR35 is a piece of legislation designed to prevent freelancers from acting as ‘disguised employees’.

This is when the relationship between the client and freelancer is much the same as an employer/employee relationship and therefore the freelancer should be paid through the PAYE system. It’s imperative that you have an IR35 review to see if you are inside or outside of the legislation.

If you are caught inside IR35 but trade as though you are outside of it then you are at risk of penalties if HMRC should decide to look into your business in more detail. You may have underpaid NI which may need to be backdated and paid to HMRC along with further penalties and interest. We have hundreds of freelancer clients and so our accountants are extremely knowledgeable in all areas concerning freelancer tax requirements, and are able to give you honest advice on how HMRC will view your business.

Accounting Wise, as part of our Freelancer Accounting package, review your circumstances and give you their opinion on whether or not your business falls within the legislation, meaning that you can be safe in the knowledge that you are trading in the correct way.

Our Accreditations

You can feel safe in the knowledge that we are experts in our field.

Our online accountants have a range of qualifications from the Association of Accounting Technicians (AAT), Association of Chartered Certified Accountants (ACCA) and the Institute of Chartered Accountants in England and Wales (ICAEW). We are also an Institute of Certified Practising Accountants (ICPA) accredited firm, and a HMRC registered Agent.

ACCA
ICPA
AAT