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Are you a contractor looking for reliable and affordable contractor accounting services? Look no further! GoForma is here to provide top-notch contractor accountancy services tailored to your unique needs. Our team of experienced contractor accountants specializes in assisting contractors with their financial management, ensuring compliance, and maximizing tax savings. With our expertise, you can focus on what you do best while we care for your contractor accounting needs.
Are you a freelancer in the UK struggling with the complexities of managing your finances? Freelancers, rejoice! Gone are the days of drowning in paperwork and tax woes. At GoForma, we understand the unique needs of freelancers in the UK, providing specialized accounting services tailored to your individual requirements. Say goodbye to financial stress and hello to peace of mind with our dedicated team of certified accountants for Freelancers. Let us handle the numbers while you focus on what you do best – your freelancing career.
What is a Freelancer?
Freelancers are self-employed individuals who offer their skills and services to multiple clients on a project basis, without long-term commitment to any single employer. Freelancers are commonly referred to as independent contractors, self-employed professionals, or gig workers. In the UK, freelancers can choose from various legal structures to trade, such as sole trader, limited company, or partnership. Each structure has its own advantages and considerations, and our expert accountants can help you navigate the complexities to find the best fit for your freelancing business.
Legal Obligations of Freelancers
While freelancing offers autonomy and flexibility, it also comes with certain legal obligations, including:
- Taxation: Freelancers are responsible for registering as self-employed with HMRC and paying income tax and National Insurance contributions on their earnings.
- Financial Management: Freelancers must keep accurate financial records, including invoices, expenses, and receipts, to fulfill tax obligations and manage their finances effectively.
- Contracts and Agreements: Freelancers often work under contracts or agreements outlining the terms of the project, including scope of work, payment terms, and deadlines.
- Insurance: Depending on the nature of their work, freelancers may need to consider professional indemnity insurance, public liability insurance, or other forms of insurance to protect themselves and their clients.
Why Do Freelancers Need Accountants?
Freelancers often find themselves juggling multiple responsibilities, from client work to marketing and everything in between. Engaging a professional freelancer accountant can be a game-changer, offering several benefits:
- Time Savings: Handling finances can be time-consuming for freelancers. Outsourcing accounting tasks frees up time to focus on core business activities and client projects.
- Compliance Assurance: Freelancers face complex tax regulations and deadlines. A freelancer accountant ensures accurate filings and compliance, reducing the risk of penalties.
- Financial Guidance: With fluctuating income and variable expenses, freelancers need strategic financial planning to manage cash flow, save for taxes, and plan for the future.
- Expense Management: Accountants help freelancers maximize deductions by identifying eligible expenses to reduce tax liabilities.
- Business Growth: As freelancers scale their businesses, accountants offer insights and strategies to optimize profitability, expand operations, and achieve long-term goals.
What Expenses Can Freelancers Claim?
Understanding what expenses you can claim is crucial for maximizing your income. At GoForma, our accountants ensure you make the most of allowable expenses:
- Office rent or home office expenses
- Equipment and supplies
- Travel and transportation
- Marketing and advertising
- Professional development and training
- Utilities and phone bills
- Insurance premiums
Why Choose GoForma to Hire Accountants for Freelancers?
At GoForma, we go the extra mile to cater to the specific needs of freelancers. Here's why you should choose us:
1. Dedicated Accountant
At GoForma, we assign you a dedicated accountant who understands the unique complexity of freelancing. Your personal financial expert ensures that your accounts receive the individual attention they deserve, fostering a partnership that goes beyond numbers.
2. Partnership with FreeAgent Accounting Software
We've partnered with FreeAgent, the leading accounting software for freelancers, to offer you a seamless and integrated experience. With FreeAgent, you can easily manage your finances, track expenses, and generate invoices, all in one place.
3. Regular Deadline Reminders
Never miss a crucial financial deadline again. At GoForma, our tax accountants for freelancers send you regular reminders, keeping you on track with submissions, ensuring compliance, and giving you the peace of mind.
4. Wide Range of Accounting Services
From basic bookkeeping to complex tax planning, GoForma offers a diverse range of accounting services tailored to freelancers. We recognize the multifaceted nature of your financial needs, ensuring that our services align perfectly with the demands of your freelancing career.
5. Tax Planning and Advice
Navigating the complex tax landscape is made simple with GoForma. Our experienced accountants provide personalized tax planning and advice, helping you optimize your financial strategy, minimize liabilities, and maximize your take-home pay.
6. Competitive Pricing Packages
We understand the importance of affordability. GoForma offers competitive pricing packages, designed to provide maximum value for your money. You'll receive top-notch accounting services at affordable rates, without sacrificing quality or expertise.
7. Certified Accountants
At GoForma, our team consists of certified freelancer accountants with the expertise to handle your accounts with precision and accuracy. We adhere to the highest professional standards and stay up-to-date with the latest regulations and best practices. Your financial matters are in capable and qualified hands.
Who Do Our Accountants for Freelancers Help
- Construction workers
- Creative freelancers
- IT consultants
- Interior designers
- Online retailers
- Recruitment consultants
- Small businesses
What Do Our Freelancer Accounting Services Include?
Our comprehensive services cover every aspect of freelancer accounting:
Self-assessment Tax Returns:
We handle the entire self-assessment process, ensuring accurate and timely submissions to HMRC. You can rest assured that your self assessment tax returns are completed correctly and on time, minimizing the risk of penalties.
Our team prepares comprehensive statutory accounts in compliance with UK accounting standards. These accounts provide a clear overview of your financial position and performance, essential for business decision-making and compliance purposes.
Keep your financial records organized and up-to-date with our professional bookkeeping services. We'll review records of your income and expenses, providing you with a clear picture of your financial health.
Understanding IR35 legislation can be complex for freelancers. Our experts offer tailored advice to help you understand your IR35 status and ensure compliance with the latest rules.
Tax Planning on Dividend vs Salary:
Make informed decisions about your remuneration strategy with our tax planning services. We'll help you optimize your income mix between dividends and salary, maximizing tax efficiency while meeting your financial goals.
Right VAT Scheme for Your Business:
Choosing the right VAT scheme is crucial for managing your VAT obligations effectively. Our team will assess your business needs and recommend the most suitable VAT scheme, ensuring compliance and minimizing administrative burdens.
Quarterly Review of Bookkeeping Data:
Stay on top of your finances with regular reviews of your bookkeeping data. We'll analyze your financial records quarterly, identifying trends, opportunities, and areas for improvement to help you make informed business decisions.
VAT Registration & Submission of Quarterly VAT Returns:
Let us handle your VAT registration and quarterly VAT returns, ensuring compliance with HMRC regulations. We'll manage the entire process, from registration to submission, saving you time and hassle.
Ensure accurate and timely payroll submissions with our payroll services. We'll handle all aspects of payroll processing, including calculation of wages, deductions, and tax withholdings, giving you peace of mind that your employees are paid correctly and on time.
Assistance with HMRC Records Checks:
Facing an HMRC records check can be daunting, but you don't have to face it alone. Our team will assist you every step of the way, providing the necessary documentation and support to ensure a smooth and successful outcome.
Tax Investigation Service:
At the time of a tax investigation, our team will represent you and defend your interests with HMRC. We'll communicate with tax authorities on your behalf, providing expert advice and guidance throughout the process, minimizing disruption to your business operations.
Unlimited Support and Guidance:
Have questions or need advice? Our team is here to help. With unlimited support and guidance, you can reach out to us through email, WhatsApp or phone call whenever you need assistance, whether it's tax-related queries or general financial advice.
Switching Freelancer Accountants to GoForma Made Easy
Thinking of switching accountant? We've streamlined the process to make it as seamless and stress-free as possible. Here's how we ensure a smooth transition to GoForma:
- Initial Consultation: We start by scheduling an initial consultation to understand your business needs and discuss how GoForma can support you. This allows us to tailor our services to your specific requirements, ensuring a personalized approach from the outset.
- Account Transfer: Once you've decided to make the switch, our team will take care of transferring your accounts from your previous accountant to GoForma. We'll handle all the paperwork and communicate with your former accountant to ensure a smooth transition.
- Data Migration: We'll work closely with you to migrate your financial data to our systems securely. Whether it's transferring digital records or reconciling paper documents, our team will ensure that all your financial information is accurately transferred to GoForma's platform.
- Immediate Access to Services: Once the transition is complete, you gain immediate access to our suite of accounting services. Your dedicated accountant is ready to support you from day one.
- Training and Guidance:Transitioning to a new accounting system may come with questions. Our team provides training and guidance to ensure you are comfortable navigating our services and systems.
- Continued Support: Once you're fully onboarded with GoForma, our support doesn't stop there. We're committed to providing ongoing support and guidance to help you make the most of our services. Whether you have questions about your accounts or need advice on financial matters, our team is here to help.
- Regular Reviews: As part of our commitment to excellence, we conduct regular reviews of your accounts to ensure everything is running smoothly. This allows us to identify any issues or areas for improvement and address them proactively, ensuring your financial affairs are always in order.
Switching to GoForma is not just a change in service; it's an enhancement to your overall freelancing experience. We take pride in making the process as straightforward as possible, allowing you to enjoy the benefits of our dedicated accounting services without the headaches typically associated with transitions.
Choose UK's Best Freelancer Accounting Firm - GoForma
In the fast-paced world of freelancing, having the right support system in place can make all the difference. At GoForma, we're more than just accountants – we're partners in your success. Trust us to handle your accounting needs with professionalism, expertise, and a personal touch. Check out our Google and Trustpilot reviews to see what our clients have to say about their experience with GoForma. With a track record of satisfied customers and positive feedback, you can trust us to deliver exceptional service and results.
So why wait? Take the first step towards financial peace of mind and hire freelancer accountants from GoForma today. Let us handle the numbers while you focus on what you do best – building your freelancing career and achieving your business goals.
Frequently Asked Questions on Accountants for Freelancers
How Much Do Freelance Accountants Charge?
Freelance accountants typically charge based on factors such as the complexity of the work, the level of experience, and the services required. Rates can vary widely, but on average, freelance accountants may charge anywhere from £35 to £500 per month or more, depending on the scope of services provided.
Do I Need an Accountant as a Freelancer?
While it's not mandatory, having an accountant as a freelancer can be highly beneficial. Accountants can help you handle complex tax regulations, maximize deductions, manage finances efficiently, and provide valuable advice on financial planning and business growth.
Where Can I Find Freelance Accountants?
Searching online is one of the easiest ways to find accountants for freelancers. It allows you to access a wide range of options and view customer reviews to gauge the quality of service before making a decision. Review platforms like Google and Trustpilot can provide valuable insights into the experiences of other freelancers with a particular accountant or accounting service, helping you make an informed choice that aligns with your needs and budget.