Accounting services for the Self Employed
We’re specialist accountants for self-employed people in Swindon, Wiltshire, working with local people to provide a range of specialist accounting services.
Accounting for the self-employed whether as a sole trader with a business or as a freelancer involves everything from annual personal self-assessment income tax returns and VAT returns to personal tax planning advice. In particular, we can help you settle on the most tax efficient business structure for your freelance business – sole trader or limited company?
Our role is to give you the support you need to comply with tax law, to pay the right amount of tax but no more, and to relieve the burden of financial administration so you can concentrate on your work.
A key focus for us as accountants for the self-employed is making sure that our clients have access to financial technology that will save them time and improve efficiency. That’s driven partly by our strong advocacy for cloud accounting software and partly by external pressure from the Government’s Making Tax Digital (MTD) programme. The upcoming roll out of MTD for income tax self-assessment (MTD for ITSA) will bring many freelancers into scope. We can help you find compliant software and handle setup and training.
Quote example 1: For a small limited company that provides services and has few overheads (that requires: preparation of annual company accounts; preparing/checking quarterly VAT returns; running a small payroll for the director; ongoing accountancy/tax advice, and; preparing an Income Tax Return for the director), we would expect to quote £1,512+VAT for the year’s work and we would look to set up a monthly direct debit of £126+VAT. If more, or fewer, services were required, we would amend the quote accordingly.
Quote example 2: For a self-employed freelancer with a small business and no employees for preparing accounts and a self-assessment tax return we might quote anywhere from £300+VAT to £600+VAT depending on the records.