Accountant for freelancers in London

Your tax returns, prepared and filed

Freelancing means you are responsible for your own tax. For a sole trader that is a Self Assessment return each year. For a limited company it is annual accounts, a Corporation Tax return and usually a personal return for you as well. We prepare and file all of these for you, from records we keep or check, so you can get on with the work you are paid for.

Who it's forFreelancers and contractors in creative, tech and professional work: designers, developers, photographers, writers, consultants and anyone else selling their own time and skills. It suits people in their first year of freelancing as much as those who have been self-employed for a while.

Sole trader or limited company

One of the first decisions is how to trade. There is no single right answer. It depends on your profits, how you want to pay yourself and what your customers expect.

Some larger customers prefer to contract with a limited company, while some freelancers prefer the simplicity of being a sole trader. We can set out the figures for your situation on the free call. If you go down the company route, our page on year-end accounts and Corporation Tax explains what the company has to file.

Expenses you can claim

You pay tax on profit, so claiming the right costs makes a real difference. In general, a cost can be deducted if it is incurred wholly and exclusively for the business. For freelancers that often includes:

• Software subscriptions, equipment and tools you use for the work
• A fair share of home running costs if you work from home
• Professional memberships, training that keeps your skills current, and insurance
• Travel to temporary places of work, such as a customer's site

We work through your costs with you and explain anything that cannot be claimed, so there are no surprises when the return is filed.

Your first tax return

If your self-employed income for the tax year is £1,000 or less, the trading allowance may mean you do not need to register. Above that, you need to register for Self Assessment by 5 October after the end of the tax year, and the online return and tax are due by 31 January.

VAT for freelancers

You must register for VAT if your taxable turnover goes over £90,000 in any rolling 12 months. Check at the end of each month, and if you have gone over, tell HMRC within 30 days of the end of that month. Some freelancers register earlier by choice, and whether that helps depends on who your customers are. When you are registered, we prepare and file your VAT returns from the books we keep through our bookkeeping service.

Freelancing in North London

We are based in Camden, close to the studios and shared workspaces around King's Cross and Camden, and can work with freelancers anywhere in London and UK-wide. The first conversation is a free 20-minute call by phone or video.

Questions people ask