Key tax dates and deadlines for 2018/19
It is an inevitable reality that, for anyone earning a livin...
By Jonathan London on 23rd September 2015
When embarking a career in freelancing, one of the key benefits can be the simplification of what were once complex workloads.
Working for a large company can often be an organisational nightmare, and plenty of former office workers will remember times when it felt like half their day was taken up by form-filling, training and other bureaucracy. The prospect of starting afresh, with only a handful of clients and a slimmed-down workflow of your own design, can therefore be extremely appealing.
However, many self-employed people will find that this simplicity is hard to maintain, particularly as they grow more successful. At first, it may be entirely possible to run your operation on a shoestring budget, managing your income and outlay using little more than a basic spreadsheet, but this will not be viable as your earnings rise, your client relationships get more complex and your tax liabilities increase.
All of this goes double if you choose to build on your early success by creating your own start-up company, a move that will add extra layers of procedure on top of your accountancy processes. Some people will still find it possible to manage all of this alone; many others will start to feel the need to seek help.
Hiring an accountant might feel like an extra complication, but in fact it can be a step towards making your life a lot easier, allowing you to take full advantage of the expertise they can provide and shift your own focus to the core strategic elements of your business.
What can an accountant do for you?
By hiring a professional accountant, freelancers and microbusinesses will be able to delegate a number of time-consuming but essential administrative tasks to someone specifically trained for that purpose. These may include:
What are the benefits of using an accountant?
Finding an accountancy solution that works for your needs and those of your organisation can be something that provides you with a genuine competitive advantage. By getting this right, freelancers and start-up companies can expect:
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