Accountant for Freelancers
Helping you call the shots
Freelancer life is undeniably more complex than working at a full-time job with a salary, especially when it comes to tax affairs – because you’ve got to do all of that yourself. That can be daunting when you see the sheer amount of paperwork you’ll need to tackle if you want to do your own freelance tax return, so it’s no wonder many freelancers turn to accountants instead.
If you’re a freelancer, you’ve likely got a pretty small budget for accountancy costs compared to a larger business – and this is the first factor that’ll influence your search for an accountant. Ideally you should seek out an accountancy firm that specialises in small business and freelance accounting rather than large-scale businesses that have more complex issues. You simply don’t need their services, and you’ll pay over the odds for services you won’t use.
No Worries are accountants who were born out of a vision to offer a straightforward accounting solution to freelancers working in the UK. Whether you have a limited company or operate as a sole trader we can help. Our excellent reputation in the freelancer segment and knowledge of tax services has facilitated our organic growth and we now work with hundreds of freelance businesses just like yours. Speak to our friendly team for a free consultation to find out more about our accounting and tax services and how we can support you on your journey.
When it comes to making the most of your finances you need to think beyond numbers and get advice that you can rely on. Our qualified accountants have the ability to break down complex tax matters to help you optimise your personal tax (including national insurance) and business tax position. It does not matter whether you come to us already with your own limited company or operate as a sole trader business, we are happy to help get you started with us. We have already helped thousands of contractors, from locum doctors and locum pharmacists, to engineers, IT professionals, and freelancers who work in finance.
Still have questions about how operating as a freelancer will work for you? We are always happy to talk!
We are ready if you are! Sign up now and let the journey begin.
All freelancer clients are assigned their own dedicated accountant at No Worries who offer unlimited expert advice. This means you have a single port of call for any questions you might have, along with dealing with someone who understands the history of your business. Our specialist freelancer accountants will handle all of your tax paperwork and as part of our normal accounting services will work with you to maximise your tax savings. Additionally, we will guide you through the latest tax changes, discuss national insurance contributions, complex rules such as IR35, and all your filing deadlines and tax returns so that you can focus on your business without worrying whether all your business affairs are in order.
Online Accounting Software
Modern freelance accounting software connects to your business bank accounts to make your bookkeeping quick and easy to manage on your phone or computer. If you get stuck, we are only a phone call away. As a freelancer, you want to be in control of your income and be ready to take on the next project without the hassle of accountancy getting in the way. We offer all clients our acclaimed and simple to use online accounting software called Simplifi for free as part of our standard accounting services. Choosing the right accounting software for small business is an important decision. Whether you work in the finance, the creative industry, veterinary healthcare, or construction industry, there are a number of factors you need to consider, such as cost, ease of use, features and integrations. We have put together a list of what we believe to be the six most important features of the best accounting software solution for you.
One of the most important accounting software features for all small businesses is having a bank account integration. This means your business transactions are automatically downloaded from your business bank account saving you hours of manual data entry from bank statements.
Another time-saving feature that is essential for your freelance business is receipt scanning. This allows you to take a photo of your receipts and have them automatically added to your business expenses in Simplifi.
As a limited company contractor, it is important to stay on top of your tax affairs. This can be a complex and time-consuming task, but our accounting software makes it easy with our Tax Dashboard.
Invoicing is an essential part of running a business, and it’s important to have an invoicing system that is easy to use and understand.
If you are a limited company contractor who works with clients overseas, it is important to have an online accounting solution that supports multiple currencies.
As a limited company contractor, it is important to have access to accurate and up-to-date financial reports.
The Benefits of Running a Freelance Business
The post-pandemic world has led many to believe that freelancing is the future of work, and they are not wrong. With the enormous rise in remote working, a new wave of virtual worker bees are ready to go. But after this, if you are still wondering why freelancing, then check out our list below for 5 great benefits of freelancing. We are seeing not only an increase in locum accountants, but also medical professionals, workers in the creative space, as well as the traditional finance, IT, and engineering sectors. These freelancers will usually work through their own limited company, or as a sole trader.
Build A Better Lifestyle
Are there days when you are absolutely sick of your routine and want to completely change it but work commitments are a hindrance? With freelancing, you have complete control over your timings. If you are a night owl you can work when the moon comes out, or if you are an early bird, you can start your day with the sun. Just focus on keeping a track of the deadlines and delivery dates.
Multiple Sources of Income
A major plus of working as a freelancer is that there is no limit to how much you can earn. There is no law that dictates the number of projects one can work on at the same time. If you are a Jack of many, if not all trades, then you can take up multiple projects which require different skills and work on them simultaneously. That way, you stay more productive while mining more cash.
Break the Monotony
Do you ever feel like you are doing the same kind of work every day, every hour? Like you are stuck in a constant loop of monotonous work with no escape in sight? Once you have adopted the freelance lifestyle, the ball is in your court. Since you have the freedom to choose your client and the project, you are free to mix it up. You not only have the flexibility to choose the kind of work you do but also control the office hours. Work when the creative juices are flowing and take a break whenever the wish arises. No more depending on the clock to eat lunch or take a tea break. Customize your own routine.
Being the Boss
The biggest benefit of being a freelancer is that you are the CEO of your own company. You are an autonomous entity. You are free to choose the kind of clients and people you want to work with. You have the authority to choose not to work with aggressively difficult clients.
Broaden Your Skillset
The best thing about working on diverse projects is that with every new project you get an opportunity to learn something new. Freelancing allows one to step out of the comfort zone and work on something you always wanted to but were too hesitant about. A lot of young professionals have side businesses they are passionate about but have little time to work on. With freelancing, you have the freedom to choose the workload. You can take up projects that aren’t too draining and leave you with substantial time and energy to work on your side hustle.
As a freelancer, you may have noticed that lots of business bank accounts aren’t designed with you in mind. Many charge monthly fees that can only be waived with large account balances, and they come with lots of features you don’t need. So what’s a budget-conscious freelancer to do? Well, it turns out there are affordable business bank accounts out there, some of which have features just for freelancers. Here are our top 5.
Award-winning bank accounts. No branches, no problem. Get more from your money with Starling’s online bank accounts.
It just works, so you can too. Monzo Business Banking helps small businesses stay on top of their finances. Starting at no monthly fees.
Ready for business. Powerful and simple. Apply today through Tide to open an FSCS protected bank account provided by ClearBank.info
Do business globally with a Revolut Business account. Open an online business account – it’s quick and easy.
The only business account you need to go global. Everything you need to grow your business and operate internationally — without the high fees, hefty admin, and headache of a local bank.