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accountants for influencers

Accountants for Influencers

Specialist Accountants for Influencers Serving London and Nationally

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Like any business owner, a social media influencer can enjoy the perks of working with a professional accountant to help manage their finances, meet their obligations and maximise their earnings.

The rise of influencers has been exponential in recent years due to the growth of social media platforms and changes in consumer behaviour. Social media influencers have become an essential component in the marketing strategies of major consumer brands, presenting a lucrative opportunity for innovative digital entrepreneurs.

This capacity for growth and low start-up costs have made becoming a social media influencer or content creator an accessible and desirable career path for thousands of people. If you are venturing into the world of online influencing, it’s vital that you establish sound financial management and understand your tax position, to make the most out of the opportunity.

At WIS Accountancy, we work with ambitious social media influencers and content creators to help them keep their finances simple, meet their tax obligations and retain more profit from their lucrative revenue streams. Contact us for a free consultation.

Do influencers need accountants?

As a social media influencer, you don’t have to hire an accountant, which is fine if you have a decent working knowledge of tax legislation and are happy to devote hours per week to tasks like bookkeeping. This may be manageable in the early days, but as your brand grows and you become more busy, accounting can feel like an unwelcome part-time job.

The alternative is to hire expert accountants so you can spend less time sweating about your finances and more time devoted to creating content and growing your brand. It’s likely far more cost-effective than you think and could save you money in the short and long term.

Benefits of working with an accountant for social media influencers

  • Win back time: As anyone who’s filed a self-assessment tax return will tell you, it can be energy zapping. Add to that keeping on top of your bookkeeping and budgeting to ensure your cash flow stays healthy. As accountants for influencers, we understand your time is money, so we’ll take all of this off your hands.

  • Avoid fines: HMRC hands out heft penalties for late submissions and mistakes, but we’ve got your back and won’t let that happen.

  • Make more money: As your accountant, we will ensure you are tax efficient. Simply put, we’ll help you to claim every tax relief you are entitled to so you keep more of your profit.

  • Get peace of mind: Chasing late payments, filing receipts and calculating your tax bill is not good for your wellbeing when you have a full-on job like content creation. Having a professional accountant in your corner can provide a sense of calm and control.

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All about business pre year-end tax planning

Our accounting and tax services for influencers

WIS can offer social influencers a full range of small business accounting services. Not sure what you need? No problem. We’ll carry out a full consultation to understand your position and create an accounting package to meet your needs with a fixed monthly fee.

Self-assessment tax returns

As an influencer, it’s sometimes tricky to work out what to include on your self-assessment tax return. For example, some gifts should be included in your total income, but some are tax-free. We will help calculate your taxable income and compile your tax return to save you a lot of time, stress and hassle. We’ll also work with you to identify deductible business expenses so you don’t pay too much tax.

Bookkeeping

Bookkeeping is a daily discipline, which is hard when you’re running a business single-handedly. We will help you to keep spotless financial records of your income and expenses using the market-leading cloud accountancy software Xero. It’s as simple as you uploading screenshots of your invoices, and we can do the rest. Come year-end; your tax return will be a breeze.

Company registration

Most influencers start as sole traders, but as your business grows, registering as a limited company may be more profitable and limit the risk you’re exposed to. We can help you weigh up the pros and cons and take care of your new company registration.

VAT returns

Social influencers can make serious money these days, and many are required to register for VAT. We’ll let you know when you need to register, take care of the paperwork and ensure you know exactly how it works. From there on, we’ll compile your VAT returns on your behalf.

Business planning

At WIS, we help ambitious digital entrepreneurs to reach their financial goals and fulfil their potential. If your aim is to expand your company, we can help you with financial planning and guide you on the road to business growth.

Why choose WIS as your specialist influencer accountant?

It’s true that many people are still getting to grips with what influencers do and the recognising value they add to today’s consumer market. At WIS Accountancy, we get it. We know that becoming a successful social media influencer requires a strong work ethic, business sense and a whole lot of energy and time. Our accounting team is here to support you 100% and help your business reach new heights.

Give yourself a break from managing your accounts and concentrate on content creation and growing your social media influencer business. Get a free quote from WIS today.