Accountants for Freelancers: Do You Need One?

Working as a freelancer worker is not quite the same as being a contractor. As a freelancer you have to work on a number of projects with different clients at the same time. However a contractor generally contracted with one client for specific of time frame.

An accountancy firms in the UK for freelancer, provide specialized accountancy and taxation consulting services for freelancer.

Online accounting solutions in UK typically are used for managing financial records and track the flow of funds in the business as a freelaner. This means that professional accountants can help you with regards to freelance-specific tax expenses. For example, if you are working from home, your accountant can help you with claim part of your personal expenses like electricity. Accountants are also aware of any legislative changes from Government organisation, which could affect you financially and legally. Accountants for freelancer provide answers to questions like:

·         Are all the salaries/wages paid on time?

·         How much money do the debtors owe – accounts receivable

·         How does the cash flow statement look?

·         Dealing with HMRC

·         IR35 status reviews

·         Submit reports on time to HMRC

·         Are there any problems for the business in meeting its current liabilities?

·         How much does the business owe – accounts payable

·         Advice offered in a simple way, no complex accounting language

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Created on Dec 18th 2020 09:32. Viewed 239 times.

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