Specialist accounting for professional photographers
As your accountant we understand the importance of minimising tax, providing guidance, meeting deadlines and freeing up your time to run your business. We have chosen to specialise as accountants for photographers. This means we understand the challenges specific to your industry enabling us to offer you a bespoke service and utilise similar client experiences for your benefit.
We work with both self-employed photographers and those who operate as a limited company.
Self-employed/sole traders
We work with photographers to prepare self-employed business accounts and tax returns. Through understanding your business we review and advise on ways to optimise your tax position and ensure you meet all of your filing and payment deadlines. The benefits of working with us are:
- Knowing that your return will be completed correctly
- Guidance on tax deductible expenses for marketing professionals to optimise your tax positions
- Clear timelines for submission and payment deadlines
- Support all year around for business and tax queries
- Self employed help sheet specific to photographers to summarise the key things you need to know
Limited companies
Limited companies are required to file statutory financial statements at Companies House, as well as a corporation tax return with HMRC. We carry out this complex process for you to ensure you meet all of your obligations whilst ensuring tax efficiencies.
- Piece of mind that your company accounts and corporation tax return will be completed accurately
- Guidance on tax deductible expenses to optimise the company tax position
- Tax planning to ensure extraction of profit from the company is optimal for you as a business owner
- Clear timelines for submission and payment deadlines to avoid interest and penalties
- Support all year around for business and tax queries, not just at year end
- Limited company help sheet to summarise the key things you need to know as a photographer
- Completion of documentation required to remain compliant with the Companies Act
- Completion of bookkeeping and quarterly VAT returns to free up your time
- Monthly and annual payroll submissions to HMRC
What expenses can I claim as a photographer
- Rental costs for studio space or shoot location
- Camera and lenses
- Lighting equipment
- ripods and attachments
- Shoot related costs e.g. props, backdrops and memory cards
- Camera bags and straps
- Travel costs to shoot location
- Training costs to enhance your existing photography offering
- Advertising and marketing costs
- Subscriptions such as Zoom, Adobe, file sharing systems and photo editing suits
- Legal and financial costs e.g. accountants and public liability insurance
- Website costs
- Photo printing costs and album printing costs
- Postage and packaging costs
How else we can support you:
- Pricing strategy - understanding the costs in connection to each shoot for example, travel costs, assistant fees and cost of props and how this interacts with the post shoot costs such as editing time and client meetings to determine a pricing structure
- Budgeting for your tax bill - guidance on how much money to save to pay your tax bill at the end of the year
- Genuine interest and passion for your business
- Help improve your business strategy by understanding the barriers to growing a photography business
Xero cloud based accounting
Xero is leading cloud accounting software. As Xero partners we are able to offer client discounts, software training and advice on apps for photographers that integrate with Xero e.g. Paypal, Hubdoc and studio ninja.
The Collective
The Collective is a community of creative and wellness professionals who share resources, generate ideas and collaborate. Members of the collective include; carefully selected specialist partners, our clients and guest experts. As facilitators of the collective we use clients challenges, specialist partner knowledge and expert experience to generate content for our members.
Our key accounting services for photographers
Bookkeeping
Keeping on top of your business records can be time consuming and confusing. The Orenda Collective can maintain accurate and timely financial data for you that you will have access to all year round.
Payroll
Payroll is not straightforward and requires information to be submitted to HMRC on a monthly basis. Let us take care of this for you to ensure you meet submission deadlines and avoid penalties.
VAT
Businesses with sales exceeding £85,000 in a 12 month rolling period must charge Value Added Tax (VAT) and complete quarterly VAT returns. We can advise on VAT issues as well as taking on the whole process for you.
Company Secretarial
When running a company you must keep up to date with legislation that may affect your business or its directors. We are here to provide our clients with up-to-date support and guidance.
