How Personal Accountants Can Help Freelancers Manage Their Finances

Here in 2023, the gig economy is going strong and more and more people are turning to freelance employment as their primary source of income. Freelancing provides a level of freedom that can be hard to find in most jobs by allowing freelancers to work on various projects and letting them be flexible in their schedules. That being said, managing freelancer finances is quite another matter and, when confronted with this task, many are left unsure of what to do.

In this article, we’ll be going over the basics of how personal accountants can help to sort out freelancer finances and help you to manage them more effectively.

Not Sure How To Pay Your Taxes? Here’s What You’ll Need To Know

Doing your taxes as a freelancer is very important. While audits don’t happen often, if and when they do, you don’t want to be caught up on a technicality. Freelancers are responsible for paying their taxes and ensuring that all their forms are filled out correctly. Fortunately, you can do this online but while the UK’s government website does lay out all the forms you’ll need to fill in, it doesn’t spend that much time explaining them or telling you how to find the information they’re looking for.

A personal accountant, on the other hand, will not only be able to go through all of this with you, but they’ll be able to help keep everything nice and organised so you don’t have to deal with the hassle. Furthermore, by having an expert on your side to handle your freelancer finances, you’ll be able to have full peace of mind that you’ve not breached any laws.

Financial Management

For successful freelancers, as they expand their business, so too do they have to expand their finances and that requires good financial management. Freelancer finances can get pretty involved, especially if that freelancer also has a traditional source of employment at the same time.

A personal accountant can help freelancers to keep track of their money, even ensuring that it’s well invested for the future. That way you’ll be safe so long as you’re in business.
At the end of the day, a personal accountant can take all of the stress out of freelancer finances and potentially save you huge amounts of money in the long run. Financial law can be complicated and if it’s not your field, it can be far more time and cost effective to let a dedicated professional handle your needs rather than attempt to take care of them yourself. So if you’re a freelancer and you’re looking to improve your financial management, contact a personal accountant today!