Accounting for contractors and freelancers
What services do we offer for freelancers and contractors?
- Help setting-up as self employed
- IR35 status reviews
- VAT Returns (If applicable)
- Year-end accounts
- Dealing with HMRC
Why we give accounting advice in simple English?
For a freelancer or contractor, sometimes finding answer to a simple accounting question can be an arduous task. Accountants being accountants, usually speak complicated accounting jargons and make it even more difficult for the business owner to understand. However, our accountants at Tally thoroughly understand this. That's why we offer you with accounting advice in simple English. You won't hear any accounting jargon whatsoever from us.
Why contractors and freelancers choose Tally?
- We offer step-by-step advice on setting up
- Help with registration, administration and tax affairs
- Submit reports on time to HMRC
- Tax records completed and always filed within tax deadlines
- Advice offered in a simple way, no complex accounting language
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You don't want to waste productive hours on accounts, do you?
Being a contractor under the Construction Industry Scheme or a freelancer has its own pros and cons. While being self-employed is great, there are also some cons with it. They do not enjoy the benefits of being a salaried employee – while the latter have their tax and other requirements taken care of by their employers, the former groups don't. Accountants for contractors are required to file monthly CIS returns with HMRC. Any delay would mean a huge penalty
that is directly proportional to the length of time they take to make the filings.
Also with being a freelancer, you are your own boss but there is bookkeeping and accounting to take care of. A freelancer, being an individual, will naturally try and take care of his/her own accounts. But it would also take up a chunk of their productive hours. They might have to spend sleepless nights going accounts and filing tax returns in order to meet the tax deadlines.
So, bottom-line: there are tax-related hassles with being a contractor or freelancer. And a lot of them could do with help from professional accountants. That way, they would be saving more time and efforts. These accountants would also keep themselves updated with HMRC changes, so they will be quick with changes, if any. Tally Accountants are reliable and affordable accountants who are situated in London. Therefore businesses in London also have the benefit of easy access to their accountants. If you need help with your accounts, get in touch with Tally Accountants right away!