Accountants For Influencers
Table of Contents
Granted, most accountants and social media influencers don’t have an awful lot in common. However, Smooth Accounting is not your average accounting firm. We built our business from scratch using LinkedIn and YouTube, where we continue to have a strong presence. So we fully understand the industry and what influencers need when it comes to managing their finances.
If you are an online content creator looking to get your tax and accounts under control without pulling your hair out, then Smooth Accounting are your go-to team. As your accountant, we will take care of the boring numbers, the paper-shuffling and tiresome tax returns, while you concentrate on developing your platforms.
Why do influencers need chartered accountants?
Savvy influencers today are geniuses when it comes to identifying revenue streams and earning money online. Cha-ching, get in the bank. When it comes to accounting for your well-earned cash however, things can become a little tedious.
As a new industry, the rules around what an influencer must declare in their annual return can be confusing. It’s essential you understand how to account for your earnings and what your VAT and tax obligations are, or you risk getting penalised. A great accountant will help maintain your accounts meticulously, make sure you remain compliant and provide valuable advice so you don’t pay too much tax.
If you’re struggling to stay on top of your finances or drowning in tax jargon, fear not, Smooth Accounting have got you covered. We really understand the influencer market, and our expert accountancy services will not only make your life easier, but support you in your future business goals.
What can influencer accountants do for me?
On the surface, paying for chartered accountancy services may appear like yet another unwanted cost. But as a digital entrepreneur, we’re sure you understand the importance of investing to get results.
Self-employed content creators can really benefit from the services of expert accountants to help improve their cash flow and maximise their profits. Smooth Accounting offers simple solutions to give you back the gift of time and ensure your accounts are watertight, allowing you to focus on running your business.
Save time and hassle
When you are your business, your time is precious. Keeping your books up-to-date and wading through tax legislation is hardly what you want to spend your time doing. We will help you keep on top of the niggly daily jobs such as filing receipts and logging expenses, and the bigger tasks like the dreaded annual returns.
As a business owner, you have a lot of legal responsibilities. The odd hiccup can happen when you’re consumed with content creation, but you don’t want to be on the receiving end of a nasty fine. To avoid getting on the wrong side of the lovely folk at HMRC, we will ensure your tax returns are made accurately and on time.
Keep more of your profit
Smooth Accounting understands how online content creators earn their income and we can offer valuable advice on becoming more tax efficient. We will help you manage your costs more effectively and make sure you get the tax deductions owed to you.
Influencer accounting services we offer
As a social media influencer, Smooth Accounting can offer you a full range of chartered accountant services to help keep your accounts simple, efficient and stress-free.
Bookkeeping is hardly anyone’s favourite pastime, but if neglected it can cause an almighty headache when it comes to submitting your annual returns. Luckily, we really enjoy that sort of thing (don’t judge). We will ensure your accounts are maintained on a regular basis by logging expenses, invoices and receipts. You, meanwhile, can get on with doing your thing and sleep easy knowing your accounts are up-to-date.
Influencers at the top of their game can generate an impressive annual turnover. So it’s important to be aware of the income threshold for paying VAT. If you are eligible for VAT, we can ensure that you’re getting the most out of it, without paying over the odds. We will also highlight if there are any beneficial schemes available to you.
Our influencer clients are obviously some of the most tech-savvy and really appreciate the benefits of cloud accounting systems. At Smooth Accounting we’re fierce advocates of Xero, which has the most active users of any cloud accounting software, and for good reason. Xero is cost-effective, simple to use and provides clients with an easy one-stop dashboard to keep their cash flowing.
As an influencer, if you earn over £1,000 in a single year, you must complete an annual tax return. When your earnings reach £12,570 per year (including certain gifts you may receive), then you must start to pay tax .
If you’re new to the wonderful world of taxes, don’t fret. We are on hand to help you calculate your income correctly, make sure you are compliant and maybe even save you a few pennies to boot.
Tax returns for influencers
If the phrase ‘self assessment tax return’ makes you break into a cold sweat, then we can be your saviours. Tax legislation is a bit of a beast, and submitting a tax return as a social media influencer is far from straightforward. But that is what we spent all of those crazy years at accountancy school for – to sweat over the gritty details so that you don’t have to.
We will help you make sense of the guidelines and work out your taxable income, including gifts, appearance fees, advertising fees, royalties and e-commerce. We will take the stress out of filing your annual return so that you have more headspace to focus on your business.
Tax deductions for influencers
As a self-employed influencer, it’s obviously important that you understand your tax obligations, but you also need to avoid over-paying! We will offer you valuable advice on claiming expenses you incur in the course of your work.
Which expenses can influencers claim?
Running an influencer business can be super expensive. However, as a small business, online content creators can claim tax back on certain expenses, as long as they were incurred for business purposes. This includes:
- equipment (eg. cameras, lighting, laptops)
- software (eg. photo editing tools, e-commerce)
- working from home costs (eg. increased electric bills)
- marketing (eg. paid advertising)
- office costs (eg. rent, furniture)
- travel to work engagements (air, train, fuel)
Why influencers choose Smooth Accounting
As a relatively new profession, a lot of people are ignorant of what influencers, bloggers and vloggers do, and fail to recognise their financial and business needs. Not acceptable. Smooth Accounting know that running a business as a content creator is hard and requires substantial dedication and expertise. Our aim is to help keep your finances simple, so that you can continue to conquer the (online) world.
Smooth Accounting are the ideal chartered accountants for influencers
The combination of our influence on social media and our specialist accounting knowledge makes Smooth Accounting the best accountants for influencers. Trust us, you need us in your life – if we can make accountancy look good online, just imagine what we can do with your finances!
We help small businesses like yours with a whole range of services, such as bookkeeping and cloud accounting, and provide professional advice tailored specifically to your industry. Our influencer accountancy services are very cost effective, with fixed monthly payments so you will never be surprised with a unexpected bill.
As a team we are great communicators, highly approachable and love to get to know our clients. No stuffed shirts here, just a friendly and extremely professional bunch of accountants who have your best interests at heart. Basically, we’re here to get to know your business and make your life easier – and perhaps we can swap social media tips and have a bit of a laugh while we’re at it.
Contact Smooth Accounting
Ready to make your finances simple? Contact us at Smooth Accounting and one of our expert accountants for influencers will be in touch to discuss how we can support your business.
We come highly recommended, check out our reviews.