Accountants for Content Creators and Social Influencers

Are you an online content creator or social media influencer? Do you need advice on tax and business growth? Whether you’re a YouTube vlogger, Instagram reviewer, or Twitch streamer (and many more), Mercian Accountants helps digital entrepreneurs like yourselves keep their finances in order, so you can focus on making great content and expanding your fanbase.

Accounting Services for Content Creators and Influencers

Mercian Accountants offers accounting services for content creators and social influencers to help them manage their financial affairs and achieve their financial goals. The specific services offered by Mercian Accountants varies, but common services include:

1. Tax planning: To help content creators and social influencers minimise their tax liabilities and maximise their take-home pay.
2. Bookkeeping and accounting: To help content creators and social influencers keep accurate records of their income and expenses, and to provide the information needed to prepare their tax returns.
3. Self-Assessment Tax Returns: To help content creators and social influencers declare all of their taxable income and ensure that they pay the correct amount of tax.
4. VAT compliance: To help content creators and social influencers ensure that they are compliant with all VAT obligations and to minimise the risk of fines and penalties from HM Revenue & Customs (HMRC).
5. Business planning and advice: To help content creators and social influencers make informed decisions about their financial affairs and achieve their financial goals.

It’s important for content creators and social influencers to understand their tax obligations and to seek professional advice if they have any questions or concerns. Working with an accountant like Mercian Accountants can help content creators and social influencers manage their financial affairs and achieve their financial goals

Why Do Influencers Need an Accountant?

Social media influencers may need an accountant for several reasons:

1. Tax planning and compliance: Influencers may earn income from various sources such as sponsored posts, collaborations, and merchandise sales, and an accountant can help them understand their tax obligations and ensure that they are compliant with all relevant tax laws.
2. Record-keeping: Influencers may receive payments from multiple sources and in different currencies, and an accountant can help them keep accurate records of their income and expenses, which is essential for tax purposes.
3. Business advice: Influencers may be running a business, and an accountant can provide them with advice on business structures, business planning, and cash flow management.
4. Tax optimization: An accountant can help influencers minimize their tax liabilities by identifying tax-efficient structures and making sure they take advantage of all available tax reliefs and deductions.
5. Financial planning: An accountant can provide influencers with financial advice and help them develop a financial plan to meet their personal and professional goals.

Even if you’re new to the profession or consider it a hobby, as a content creator or social media personality, you’re probably earning money and accruing costs like any other business.

For example, the following are classed as income and therefore liable for tax:

• Royalties
• Advertising or appearance fees
• Gifts
• Products for reviews
• Hotel stays

You could also claim expenses on items used solely for your influencing business, such as:

• Phones, laptops, and cameras
• Travel
• Internet and website bills, e.g., hosting and domain name
• Marketing
• Prizes for giveaways
• Software and apps, e.g., stock photo or video library subscriptions
• Office supplies
• Merch
• Clothing and beauty products

By working with an Accountant, you’ll be able to make the most profit, pay the right tax, claim allowable expenses, and avoid any penalties or costly HMRC investigations.

Having an accountant can provide peace of mind for influencers and ensure that their financial affairs are in order. Additionally, it can help influencers focus on what they do best, which is creating content, while leaving the financial and tax-related responsibilities to the experts.

Accounting Services for Content Creators

Get in touch today, and our experienced team of Accountants for influencers can help with the following:

• Starting up your new content creation and/or influencing company
• Submitting Year-End Company Accounts
• Organising Bookkeeping
• Filing Self-Assessment Tax Returns and VAT Returns
• Managing your Payroll
• Recommending online accounting software
• Tax Planning for further savings
• Other financial advice such as investments

With one of our tailored accounting packages for content creators, we will make sure you maximise your income while remaining HMRC-compliant, so you can dedicate your attention to your audience.

Why Use Mercian Accountants?

At Mercian, our Accountants for influencers are friendly, experienced, and approachable. We already work with content creators big and small across a range of entertainment platforms, so we know exactly what’s required to keep things running smoothly. With our help, you can spend more time doing what you love and turn your passion into a career – we’ll be here to guide you every step of the way. Don’t just take our word for it – check out our five-star Google rating from a range of happy clients here.

Get in touch with our Accountants for content creators today – you can message us through our online form, call 01743 562430, or email hello@mercianaccountants.co.uk.