Working as a freelancer provides autonomy, flexibility and the chance to build a career on your own terms, but with that freedom comes the burden of navigating complex finances. From tracking irregular income to managing your own taxes and submitting company accounts and tax returns, freelancers face a unique set of challenges that most general accountants aren’t equipped to handle.

That’s where we come in. At Nexus Accounting, we specialise in accounting for freelancers in the UK, offering tailored financial solutions designed to support self-employed professionals at every stage of their journey. Whether you’re new to freelancing or scaling up your services, our expert team is here to simplify the numbers so you can focus on doing what you do best.

This guide explains what you can expect from our freelancer accounting service, including tax planning, financial management, and compliance support, all designed specifically for freelancers operating via a Limited Company.

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What is a Freelancer?

A freelancer is a professional who offers services to clients or businesses on a project or contract basis. Freelancers often work in creative, technical, or consultancy roles – including but not limited to graphic design, copywriting, web development, project management, and more.

Freelancers typically set their own rates, manage their client relationships, and handle their own business admin, including invoicing and tax.

What Does It Mean to Be a Freelancer Operating via a Limited Company?

When you operate as a freelancer via a limited company, you become both the director and an employee of your own business. This structure offers several key benefits, including:

• Greater tax efficiency (through a combination of salary and dividends)
• Limited personal liability
• A more professional image when working with corporate clients
• Access to business banking, contracts, and expense claims

At Nexus Accounting, we work with freelancers who operate through a limited company. If you’re looking for expert support tailored to this structure, you’re in the right place.

Why You Need a Specialist Accountant for Freelancers

As a freelancer, your financial responsibilities are very different from someone in traditional employment. 

You must:

• Keep accurate and up-to-date records
• Manage fluctuating income
• Track expenses
• Pay your own tax and National Insurance
• Submit a freelancer tax return (Self Assessment) annually
• Understand your VAT and pension options
• Plan for gaps in work or future growth

A standard high street accountant may not understand the nuances of freelancing – but we do. At Nexus Accounting, our expertise in freelancer accounting services for those operating via a limited company means we can offer proactive tax strategies, real-time support, and digital tools that align with your business model.

We provide more than just compliance – we become your financial partner through our accountant package which is tailored to helping both freelancers and contractors.

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Getting Started with Our Accounting Services for Freelancers

To make the most of your time with a dedicated accountant, it’s helpful to come prepared with the following:

• Current contract details and terms
• Business registration documents
• Existing HMRC correspondence (if applicable)
• Any prior tax return records
• Details of your current services and pricing
• Freelancing goals and challenges

Some things to think about before our first call:

• Are you looking to reduce your tax liability?
• Do you need help managing multiple income streams?
• Are you planning to go full-time with your freelance work?

Our accountancy package is all inclusive, meaning you will receive a number of accountancy services that are perfect for freelancers operating under a limited company. Sounds good right? Learn more here!

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The Onboarding Process: What to Expect from Your Freelancer Accountant

When you join Nexus Accounting, we begin with a one-on-one consultation to understand your freelance setup. This initial call (30-60 minutes) will include a discussion with your dedicated accountant on the following topics:

• A full review of your business model
• A discussion about your current clients and payment cycles
• Analysis of your record-keeping systems and tech preferences
• Your goals (e.g., tax efficiency, work-life balance, growth)
• Explanation of service levels, pricing and support options

From there, we’ll create a personalised roadmap that supports your growth and makes tax stress a thing of the past.

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Setting Up Your Financial Systems

Modern freelancing thrives on efficiency – and we believe in using the best tools to make your accounting seamless.

That’s why we provide FreeAgent (included in all freelancer packages). It’s easy to use, cloud-based, and HMRC-recognised. 

How We Use FreeAgent to Review Your Information

At Nexus Accounting, we use FreeAgent to help freelancers manage their finances efficiently. We provide quarterly reviews of your FreeAgent account to ensure everything is accurate, tax-efficient, and fully compliant with HMRC guidelines.

Here’s how it works:

• Your FreeAgent account links directly to your business bank account meaning your bank transactions and credit card transactions automatically feed through to FreeAgent, simplifying your admin responsibilities.
• Invoices, receipts, mileage, and other expenses can be uploaded directly into FreeAgent. Your accountant will be on hand to guide you through the process.
• We conduct a detailed quarterly review, checking that all expenses are correctly categorised and identify any potential claims you may have missed.
• We also ensure you’re not accidentally claiming for non-business or personal expenses, helping you remain compliant with HMRC regulations.
• This approach allows you to benefit from a real-time view of your financial position while getting expert input where it matters most – maximising allowable claims and ensuring accuracy.

This approach gives you the best of both worlds: a clear, real-time view of your finances and expert input to ensure your accounts are accurate and your tax position is fully optimised.

We have ongoing access to your FreeAgent account, so we can keep an eye on things in the background – saving you time and eliminating unnecessary back-and-forth.

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Freelancer Cash Flow Management and Forecasting

Managing cash flow as a freelancer can be tricky, especially when dealing with inconsistent payments and late invoices.

We help you:

• Track monthly income and expenses
• Identify quiet months and plan accordingly
• Set aside funds for tax and pension contributions
• Forecast your income and profit throughout the year

Your accountant will provide regular updates on your tax position, helping you avoid underpaying or overpaying.

Tax Efficiency Strategies for Freelancers

We help freelancers save money through smart, HMRC-compliant tax planning. Your accountant will help you:

Maximise Deductions:

• Office and equipment costs
• Website, marketing and software
• Travel and accommodation
• Insurance and training
• Phone and internet costs

Plan Ahead:

• Budget for tax liabilities
• Make pension contributions
• Track income to avoid unexpected tax thresholds
• Consider cash vs accrual accounting methods

Quarterly and Year-End Freelancer Reviews

Your dedicated accountant will review your accounts quarterly and discuss any thoughts, concerns, and advice. We will:

• Review your business performance
• Forecast your future tax liabilities
• Discuss cash flow and income trends
• Offer advice on pricing, expenses and profit margins
• Set business goals and check your progress

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Why Choose Nexus Accounting?

At Nexus Accounting, we understand that freelancing isn’t just a job – it’s a business. That’s why our service is built specifically for freelancers operating through a Limited Company who want a trusted financial partner, not just an accountant.

Specialist Knowledge in Freelance Accounting

We don’t do generic bookkeeping. Our team are experts in freelancer accountancy services, with deep experience in helping consultants and creatives across every sector. We know the allowances, reliefs, and tax-saving strategies that apply uniquely to you.

FreeAgent Included 

All of our freelancer packages include full access to FreeAgent – award-winning accounting software recognised by HMRC. You’ll get real-time tax insights, mobile receipt capture, automatic invoice reminders, and more. Freeagent is fully supported and configured by your Nexus accountant.

Personalised, Friendly Support

You’ll be matched with a dedicated accountant who’ll take the time to understand your business and goals. No ticket systems. No faceless call centres. Just responsive, expert advice tailored to your needs.

Transparent Pricing

We believe in fair, fixed monthly fees with no surprise charges. Our accounting package is priced at £100 and includes everything you need to stay compliant and financially efficient. 

Proactive, Not Reactive

We don’t wait for problems to arise. Your accountant will proactively monitor your financial performance, tax liabilities, and upcoming deadlines – offering advice, reminders and optimisation opportunities before issues arise.

Ready to Partner with an Accountant for Freelancers?

At Nexus Accounting, our freelancer accountancy service offers more than compliance – we offer clarity, strategy and support that grows with your freelance business.

Whether you’re in creative services, tech, consulting, or something in between, we’re here to keep your books balanced and your finances future-proofed. Explore our limited company package that covers accountancy services for both freelancers and contractors operating under limited companies.

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FAQs

Do I need to register for Self Assessment if I’m a freelancer operating through a limited company?

Yes. As a company director, you’re required to register for Self Assessment and file a personal tax return each year, even if all your income is taken through your company. We’ll handle this for you as part of your service.

What taxes do I need to pay through my limited company?

Your limited company is responsible for:

• Corporation Tax on company profits
• VAT (if registered)
• PAYE and National Insurance on your salary as a director

You personally may also pay:

• Income Tax and Dividend Tax via your Self Assessment return

We manage and file all relevant returns for both your company and personal obligations.

Can I claim expenses as a limited company freelancer?

Yes, and you should. Allowable business expenses might include:

• Equipment and software
• Travel for client meetings
• Website, marketing and branding costs
• Mobile phone and home office expenses
• We’ll review your expenses quarterly to ensure you’re claiming everything you’re entitled to.