Finding an appropriate accountant for my online services business?

mytaxthrowaway2

Hello everyone

I've been doing my own self assessments however now that I have grown my business I am wondering if I need a specific kind of accountant for my situation:

Currently sole trader (no employees), working in the UK providing online services to international customers.

I felt fine doing this as a sole trader however I am possibly going to make a very large (relative to my earnings) business purchase for equipment required for my work.

From what little i've been reading, being registered as a company might be the best plan in terms of money saved with tax, write-offs etc.

I am like anyone else wanting to be the most tax efficient as possible - will any ACCA accountant be able to best help me or will I need to find someone that specialises in online services (if that's even a speciality)?

Thanks for reading, hopefully someone can shed some light on this.

tacpot12

I don't think you need someone who specialises in online services particularly. Most "high-street" accountants these days will have exposure to online businesses. All such accountants will understand about the allowances available for capital purchases and will be able to advise you. I doubt your business is so specialised that you need an accountant with international knowledge. So, pretty much  any local accountant supporting small businesses will be suitable for you. 

Pennywise

I agree that any qualified accountant should be capable of advising re capital allowances and potential conversion from sole trader to limited company.  As for online/overseas trading, that's pretty common now too.

mytaxthrowaway2

Is transfer pricing still a thing for small businesses? I have contracts in a few different countries.

MalMonroe

Have a read of the info on here : https://www.gov.uk/expenses-if-youre-self-employed

I run my own online business offering international services, too. I'm a sole trader and don't see any benefit in paying an accountant when I can do my own accounts and self-assessments.

If you have any nous, you can do it yourself - as you have been doing. Or a government site (as per the link above) can give you advice.

As a sole trader you still have allowable expenses and capital allowances. 

You can save yourself money by doing some thorough research. In my experience, anyway! You said you've done 'a little reading' - I say - do some more. Then you won't need an accountant to give you advice in terms of money saved with tax, write-offs etc. And you'll save even more by carrying on doing it yourself.

There's also some government info here about limited companies : https://www.gov.uk/running-a-limited-company