Empowering Freelancers & Self-Employed Professionals with Expert Accounting

Tailor-made Accounting Solutions to Simplify Your Financial Life

What We Offer

Support When You Need It, Whatever Your Business
We are here to help, whatever the nature of your business or source of income. From IR35 contract advice to sole trader tax rebate assistance,
our accountants for self employed persons can help you deal with tricky self-employment tax returns and generally take the hassle out
of your accounting – saving as much as possible on your tax bill at the end of the year.

Benefits of Our Services

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Expert Accountancy

Benefit from the expertise of our accountants for self employed persons to help you navigate financial complexities.

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State-Of-The-Art Technology

Our expert accountants for self employed persons use advanced technology to enhance accuracy, streamline invoicing, and improve security in financial management.

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Time-Saving

Spune „Adio” consumului de hartie. Noi folosim software de contabilitate cloud ce permite accesul instantaneu la informatii. Clientii nostri pot vedea cum arata afacerea lor in timp real folosind Xero.

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Cost-Efficiency

With our expert accountants for self employed persons, you’re bound to get the most out of your investment.

Before
After

❌ Difficulty estimating tax payments

✅ Comprehensive financial assessment and tax-efficient plan

❌ Lack of knowledge about tax deductions and allowances

 

✅ Expert guidance from accountants for self employed persons on allowable expenses and tax deductions

❌ Anxiety and stress about finances and annual tax returns.

 

✅ Peace of mind

 

❌ No financial plan

 

✅ Optimised financial plan, created by expert accountants for self employed persons

 

Our Services

Tax Planning

Our accountants for self employed persons work proactively to optimise your tax strategy and ensure you can keep more of your hard-earned money while staying compliant.

Financial advice

Whether it's budgeting, investment guidance, or long-term financial planning, our accountants for self employed persons provide the insights and recommendations you need to secure your financial future.

Sole trader VAT payments and registration

Our accountants for self employed persons assist you with VAT registration, payments, and submissions, ensuring you remain in good standing with UK tax authorities.

Financial management

Our accountants for self employed persons organise your financial records, track income and expenses, and provide insights into your financial health to help you maintain control over your finances.

Reconciliation and cash forecasting

Our accountants for self employed persons help reconcile your accounts to identify discrepancies, maintain accuracy, and help you anticipate your future financial needs, ensuring you have the necessary funds for business operations.

Why Choose Us

contabil roman londra - taxace

Dedicated adviser

From a team of expert accountants for self employed persons, we assign a dedicated adviser who works closely with you to take care of your finances.

No Office Visits

With the guidance of our accountants for self employed persons, you can manage your accounting conveniently from anywhere through phone and email.

Self-Employed Savvy

With over 60+ industry experts and accountants for self employed persons, we’re ready to provide specialised knowledge.

Competitive Pricing

Our accountants for self employed persons offer cost-effective solutions tailored to your budget, ensuring you get the best value for your money.

Testimonials

Meet the Specialists

Ion Zamfir Innovation Director
Maria Sabau Operations Director
Iurie Bivol Founder & CEO
Alla Zamfir Customer Care Specialist
Alina Costreie Senior Tax Assistant
Tatiana Florea Senior Tax Assistant
Mihaela Pavlenco Senior Accountant
Elena Oprea Growth Manager
Galina Sava Tax Advisor
Carmen Socianu Bookkeeper
Oxana Mateciuc Finance Director
Monica Lazar Accountant

How We Work

1

Get in Touch With Us

  • Fill out our contact form, drop us a line, call us, or book a call.
  • Our team of expert accountants for self employed persons is available 24/7 to hear you out and answer your questions.

2

Provide the Documents

  • Our accountants for self employed persons will need some documents and more details from you to get started.
  • Once you send them, we start work!

3

Job Done

  • We’ll smoothly deliver your work – you can chat with us anytime.
  • Review what our accountants for self employed persons have done, sign it off and pay the fees.

FAQ

In the UK, you must maintain complete records of your financial transactions as a self-employed person. The records include documentation about your income and expenses, such as receipts, bills, bank statements, etc. You can use accounting software to keep these documents in check. However, it’s crucial to maintain track of the following while keeping records:

  • all of your income, including cash and online payments
  • all of your business expenses
  • records of the VAT you have charged and paid
  • information on your employees, if applicable.

It will be simpler for you to prepare your tax return, figure out your taxable income, and claim any allowable expenses if you keep the correct records.

In the United Kingdom, self-employed people must pay two types of taxes: income tax and national insurance contributions (NICs).

Income tax is calculated on taxable income, which is your total income minus any allowable expenses. Every year, you must file a self assessment tax return to report your taxable income and pay any Income Tax you owe.

You must pay National Insurance Contributions (NICs) on your earnings as a self-employed person. For example, if your profits exceed £6,365 per year, you must pay Class 2 NICs and Class 4 NICs if your earnings exceed £9,568 per year.

Furthermore, if you are VAT-registered, you must submit regular VAT returns.

Generally, you need to pay tax on all the profits made by your business, including the income you get from sales, rent, and investments. Depending on the type of business you run, your business structure, size, and the revenue your business generates, you may be required to pay some other forms of taxes, such as Corporation Tax, Value Added Tax (VAT), Employer’s National Insurance Contributions (NICs), and business rates.

Taxace’s business tax accountants can easily determine what you need to pay tax on and save you all the hassle.

The deadline for filing self assessment tax returns in the United Kingdom is 31 January. If you file a paper return, it must be received by HMRC before 31 October. It is critical to know the tax payment deadlines, usually 31 January and 31 July. Late payments may incur interest charges as well as penalty fines.

Managing cash flow can be difficult for self-employed people because their income is irregular or unpredictable. Here are some suggestions for managing cash flow:

  • Maintain accurate financial records and monitor your cash flow regularly.
  • Prepare for slow periods by having enough reserves to cover expenses.
  • Set aside money for taxes and make sure you make regular payments to avoid going into debt.
  • Consider invoicing clients more frequently or requesting upfront payments to ensure a consistent income stream.
  • Finally, consider opening a separate business account to help you manage your finances and track your spending.

As a self-employed individual in the UK, your taxable income is calculated by deducting allowable expenses from your total income. For example, business-related travel, equipment, and office expenses are all allowable expenses. Therefore, keeping accurate records of your expenses is critical because you’ll need to provide proof of these costs when filing your tax return.

Add your total income and deduct any allowable expenses to determine your taxable income. The result is your taxable income, which is used to calculate Income Tax and National Insurance Contributions.

Let's talk!

Ready to take control of your personal taxes and ensure compliance? Our accountants for self employed persons are here to help..