Our services are designed to simplify accounting for freelancers, taking the hassle out of managing your finances. We handle everything from accurate tax filings to organised expense tracking, ensuring you’re always prepared for tax season. We also focus on helping you maximise deductions, so you can keep more of what you earn.
At MMP, we’re passionate about making accounting straightforward and easy to understand. We’re here to advise you and clarify what you need for your accounts. Below are some frequently asked questions commonly posed by freelancers and self-employed business owners.
You must keep records of income, expenses, bank statements, payroll, VAT (if applicable), and tax documents for at least 5 years. This includes sales invoices, receipts, purchase records, payslips, and self-assessment forms. Digital storage is recommended for easier management and access.
Tax payments are typically due by 31 January each year for self-assessment, with the previous year’s tax owed. An additional payment on account may be required by 31 July. See our reminders page for more details on important dates.
As a self-employed individual, you can claim deductions for business expenses like office supplies, equipment, travel costs, professional fees, and a portion of your home bills if you work from home. Keep accurate records to maximise your allowable expenses and reduce your taxable income. Get in touch to see how we can help your business.
DIY accounting is possible, it can be complex and time-consuming. Hiring an accountant ensures accuracy, saves time, and helps minimise tax liabilities. We can provide expert advice, handle paperwork, and ensures compliance, giving you peace of mind and allowing you to focus on your business.
Contact us today for a free consultation and start making your accounting easier.
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