The number of self-employed professionals in the UK has almost doubled when compared with 2018 figures when the total number of self-employed professionals was at 2.2 million. It is estimated that the overall contribution to the UK economy by freelancing professionals is around £150 billion.
Looking for top-notch accounting services for contractors? Look no further. SKZEE’s expert team specializes in providing the best accounting services tailored specifically for contractors like you. With our comprehensive contractors accounting services, you can streamline your financial management and focus on growing your business.
Accountants in London, certified accountants, Accountants Preston, Accountants In Romford, Accounting Firms In Liverpool Street, and Accountants Middlesbrough offer professional expertise. Whether you’re a business owner, freelancer, or individual taxpayer, accounting firms in these areas provide comprehensive financial solutions tailored to your needs. Trustworthy and experienced accountants ensure accurate tax filings, financial reporting, and strategic financial planning to help you achieve your goals.
Implementing the insights from this guide can help you steer clear of catastrophic errors with the help of the best accounting services for contractors.
Top Accounting Services for Contractors
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VAT Registration & Filing
We’ll handle the registration of your company for VAT and ensure that VAT filings are consistently submitted well in advance of the deadline. Additionally, we offer the convenience of automatic VAT filing, with your confirmation, to expedite the process. Our assistance extends to setting up a Direct Debit for HMRC, enabling automatic VAT payments to alleviate the burden of manual transactions and eliminate the risk of penalties due to missed deadlines.
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Annual Accounts
Our goal is to finalize your annual accounts well in advance of the schedule, providing you with comprehensive and up-to-date financial records.
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Corporation Tax
Eliminate the guesswork from your corporation tax obligations. We ensure you have clarity on the amount and deadline for payment, leaving no room for uncertainty.
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Confirmation Statement
Rest assured, we take care of keeping your Companies House account current, guaranteeing timely filing of your confirmation statement.
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Self Assessment
Our operation and growth packages include a Self Assessment service, ensuring comprehensive support for your financial needs. Additionally, this service is available as an optional one-off charge of £99 + VAT.
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Tax Efficiency
We specialize in optimizing your tax across various income streams, including salary, dividends, pension, investments, and company expenses.
Choose a Method for Accounting
When filing their initial tax returns as a business, independent contractors typically have two main accounting methods to consider.
The cash basis method is straightforward, tracking income when received and expenses when paid.
In contrast, the accrual basis method records income and expenses when earned, regardless of when money changes hands. While this method offers more insight into future financial outlooks, it requires more intricate accounting, as income and expenses are recognized upon completion of work.
For personalized guidance on selecting the most suitable accounting method for your independent contracting business, consulting with a CPA is recommended.
Get the Best Dedicated Accountants
Having someone manage your accounts who truly comprehends your business and aligns with your desired level of support is paramount.
Single Point of Contact
Avoid the frustration of impersonal “support@” inboxes. With us, you’ll have a dedicated main point of contact for all your key account queries. Whether it’s regarding tax, VAT, billing, or partner services, you can easily schedule a meeting, send an email, or even text your accountant directly.
Highly Qualified
Our team of accountants boasts extensive experience catering specifically to contractor customers. Whether you have inquiries about IR35, company closure/Entrepreneurs Relief, or tax efficiency, rest assured, our experts are well-versed in optimizing and efficiently managing your accounting needs.
Communicate How You Want
We encourage you to schedule calls with your accountant, allowing them to review your account and make the most of your time during the call. Additionally, you can easily reach them via email or even text. We’re also exploring WhatsApp support to further enhance accessibility and convenience for our clients.
Lower Your Taxes & Establish Rock-Solid Financials
We at SKZEE offer the best accounting services for contractors and are dedicated to enhancing your profitability and scalability through strategic tax reduction, meticulous financial management, and efficient time-saving solutions as your outsourced accounting firm.
Our specialized services cater to builders, contractors, and construction businesses, offering comprehensive support with tax returns, tax planning, bookkeeping, and payroll. Many overpay in taxes due to inadequate tax planning and bookkeeping support—investing in expert assistance is key to optimizing financial outcomes.
For those in need of accounting services, look no further than accountants in Canary Wharf and Ilford. Additionally, practical accounting training is available to sharpen your financial skills. Accounting firms for small businesses and top accounting firms in London offer tailored solutions to meet your needs and ensure financial success.