Rated Excellent on Trustpilot - Accounting Wise

Freelancer Accounting Services

Your very own expert Freelancer Accountant

It does not matter if you are a freelance electrician, freelance builder, freelance finance professional, IT freelancer, freelancer, freelance health and safety advisor, freelancer writer, freelance SME or general freelancer we have the freelancer accountant and freelancer accounting package for you from as little as £10 per month.

Whether you are freelancing long term or on a short term basis, Accounting Wise can make life simple for you by helping you with your accountancy and tax requirements.

Build Your Own Package Accounting Packages One Off Pricing
Freelancer Accounting Packages Hero Image

Your own dedicated online freelancer accountant
All returns and filing included
Unlimited help and advice
Leading cloud accounting software
Real-Time Bookkeeping
Reminders – never miss a deadline

Unlimited help and advice
Leading cloud accounting software

Dedicated freelancer accountant
All returns and filing included

Real-Time Bookkeeping
Reminders – never miss a deadline

We provide expert freelancer accountancy for individuals and small businesses nationwide

Request Call Back

Why use Accounting Wise for your Freelancer Accounting?

0330 113 8442 Request Call Back

Your Own Dedicated Freelancer Accountant

Your own dedicated accountant icon
Build Your Own Package

When you join us, you will receive your very own dedicated freelancer accountant. Our fully qualified and friendly team will be on hand to help you throughout the year for all your financial queries.

Explore How We Help

Leading Accounting Software

Leading Accounting Sofware Icon
Build Your Own Package

You are provided with leading accounting software which will help reduce the time it takes to – provide quotes and invoices to customers, chase payments, and monitor outstanding balances.

Find Out More About Our Software

Tailored Freelancer Accounting Services

Tailored Freelancer Accounting Packges Icon
Build Your Own Package

Tax & Accounting packages tailored to suit your freelancer business. We are always straightforward in our services & pricing. We take care of your accounting and let you get on with making your business a success.

Explore What We Help With

Unlimited
Expert Advice

Unlimited Expert Accounting Advice
Build Your Own Package

Your dedicated freelancer accountant will always be on hand to answer any questions about your small business. You can contact them via email, phone, live chat, Microsoft Teams or meet them in person.

Explore How We Help

Regular Deadline
Reminders

Regular Accounting Reminders Icon
Build Your Own Package

We send regular automated reminders to inform you of when your accounts and returns are due to be submitted, helping to ensure you never miss a deadline for your freelancer business again.

Explore What We Help With

We currently support over 2,000 individuals and businesses in the UK

0330 113 8442 Request Call Back
Follow a manual added link
Follow a manual added link

5.0 Rating

Follow a manual added link

5.0 Rating

Follow a manual added link

5.0 Rating

Get started with the right accounting solution for your Freelancer business

Build Your Own Package Accounting Packages One Off Pricing

Included in our Freelancer Accounting Packages

0330 113 8442 Request Call Back

  • Tax efficiency and business recommendations

  • Representation in the event of an HMRC investigation

  • Unlimited help and advice

  • Reminders for all of your important deadlines

  • Access to business guides and resources

Get started with the right freelancer accounting solution

Build Your Own Package Accounting Packages One Off Pricing

Our Accredited Accountants

You can feel safe in the knowledge that we are experts in our field.

Our online accountants have a range of qualifications from the Association of Accounting Technicians (AAT), Association of Chartered Certified Accountants (ACCA) and the Institute of Chartered Accountants in England and Wales (ICAEW). We are also an Institute of Certified Practising Accountants (ICPA) accredited firm, and a HMRC registered Agent.

ACCA Accredited Logo
ICPA Accredited Logo
ATT Accredited Logo

Get started with the right accounting  solution for your business

Build Your Own Package Accounting Packages One Off Pricing

What is a Freelancer?

Freelancer are individuals who provide services to clients under specific terms. They tend to operate via their own limited companies and are not employees for a larger firm or business.

A Freelancer is responsible for their own ‘business’ dealings and has control of how and when they do their work. They would either be employed through an Umbrella Company for the purpose of paying them (and paying their taxes) or have their own Limited Company or be a Sole-Trader and pay their own taxes.

A limited company is a small business set up by an individual, where they provide their services on behalf of the company.

Freelancer Accounting - What is a Freelancer?

Things to consider as a Freelancer

Things to Consider as a Freelancer

Legal structures for freelancers – How best to Trade?

This is a question that all new freelancers ask: whether it is better to trade as a Sole Trader, through a Limited Company or an Umbrella Company.

There are pros and cons to all methods and so it’s important that you choose the right method for you. As a Sole Trader you do not have to take IR35 into consideration (as it is your customer’s responsibility to ensure you’re operating outside of IR35) and it is more tax efficient than an Umbrella Company, but less so than a Limited Company.

A Limited Company is the most tax efficient but there is a bit more work and more responsibilities compared to a Sole Trader. IR35 also needs to be considered if you have a Limited Company. An Umbrella Company is not very tax efficient but can be less hassle which can be more convenient if you only have a short term contract.

IR35

In summary, IR35 is a piece of legislation designed to prevent freelancers from acting as ‘disguised employees’.

This is when the relationship between the client and freelancer is much the same as an employer/employee relationship and therefore the freelancer should be paid through the PAYE system. It’s imperative that you have an IR35 review to see if you are inside or outside of the legislation.

If you are caught inside IR35 but trade as though you are outside of it then you are at risk of penalties if HMRC should decide to look into your business in more detail. You may have underpaid NI which may need to be backdated and paid to HMRC along with further penalties and interest. We have hundreds of freelancer clients and so our accountants are extremely knowledgeable in all areas concerning freelancer tax requirements, and are able to give you honest advice on how HMRC will view your business.

Accounting Wise, as part of our Freelancer Accounting package, review your circumstances and give you their opinion on whether or not your business falls within the legislation, meaning that you can be safe in the knowledge that you are trading in the correct way.

Get started with the right freelancer accounting solution

Build Your Own Package Accounting Packages One Off Pricing

Essential FAQs for Freelancer Accounting Services

0330 113 8442 Request Call Back

A freelancer is a self-employed individual who offers services to clients, typically on a project or contract basis. Freelancers can work across various industries, including creative, tech, consulting, and more.

Yes, as a freelancer, you must register as self-employed with HMRC and submit a Self Assessment tax return each year to report your income and pay tax on your profits.

Freelancers pay income tax on their profits, as well as Class 2 and Class 4 National Insurance Contributions (NICs). If you earn above the VAT threshold, you must also register for VAT.

Hiring an accountant is not a legal requirement, but many freelancers find it helpful to manage their accounts, file tax returns, and ensure compliance with UK tax regulations. Accountants can also help optimise tax efficiency.

Freelancers must keep accurate records of income, expenses, and receipts for business-related costs. These records are essential for filing your Self Assessment tax return and must be kept for at least five years after the tax return deadline.

Freelancers can claim allowable business expenses, such as office supplies, travel, equipment, software, and home office costs. These expenses must be wholly and exclusively for business purposes to reduce taxable profits.

Freelancers must register for VAT if their turnover exceeds the current VAT threshold. Voluntary registration is also possible and can be beneficial if you work with VAT-registered clients or have significant expenses.

Freelancers and sole traders are both self-employed. Freelancing typically refers to project-based work across multiple clients, while sole traders can have a wider range of business activities. Both structures are taxed the same under Self Assessment.

You must submit a Self Assessment tax return annually, reporting your business profits. HMRC will calculate the income tax and National Insurance due based on your declared earnings. Payments are usually due by 31 January each year.

Yes, freelancers can hire employees if their business grows. You’ll need to register as an employer with HMRC, operate PAYE, and deduct income tax and National Insurance from employees’ wages.

Missing the Self Assessment tax return deadline results in an automatic penalty, with additional penalties accruing if the delay continues. HMRC may also charge interest on any unpaid tax.

Yes, freelancers can transition from sole trader status to operating through a limited company. This may be beneficial for tax efficiency and liability protection as your income grows. You’ll need to register with Companies House and set up your business structure accordingly.

If you stop freelancing, you must inform HMRC, submit a final Self Assessment tax return, and settle any outstanding taxes. If you’re VAT-registered, you’ll also need to deregister for VAT. Keep records for at least five years after closing.

Switching to us for your freelancer business accounting is easy

1 Choose Your Package

Pick the freelancer accounting services that you would like from either our pre-built packages or build your own to find out exactly how much you will be paying each month.

2 Sign up with Us

Once you have picked your level of service you’ll simply need to send over a few extra details to register with us via our sign up form or over the phone

3 You’re ready to go

That is it, we will begin to set your freelancer services up for you, contact your previous accountant if required, and begin the authorisation process with the HMRC

Build Your Own Package Freelancer Packages One Off Pricing

Online Company Formation Services

Free company formation with our Pre-Built or Bespoke Accounting packages!

All official documents provided

Online Hub to manage your company

London Registered office Address

Your own incorporated limited company

Find Out More
Rated Excellent on Trust Pilot - Accounting Wise Logo

Get started with the right accounting solution for your business

Build Your Own Package Accounting Packages One Off Pricing

Contact Us

Interested in Accounting Wise?

Request Call Back 0330 113 8442

Accounting Wise is a trading style of Accounting Wise Ltd, a limited company registered in England under company number 09365202. Our registered office is: The Carriages, Station Road, Ware, SG12 9PL UK.

Content is for general information only. Always take advice.