Accountants for Freelancers

Invoicing for freelance work in Ireland is simple. Create a professional invoice with your contact details, services provided, rates, and payment terms. Send it via email or a trusted invoicing platform for smooth processing. To simplify the whole process, we can take care of your invoices, payroll, and admin for you!

Becoming a freelancer in Ireland is easy. At Contracting PLUS we will have a 1:1 call to find the best company set up for your freelance business, we will then set up that accountancy solution for you (our set up is also free!).

Yes, freelancers can secure mortgages in Ireland. Lenders assess freelancers based on income stability and financial history. A consistent income, organised financial records, and a good credit score improve your mortgage eligibility. We now have an in-house mortgage broker who specialise in working with freelancers and navigating your mortgage journey with you.

File an annual Income Tax Return using the Revenue Online Service (ROS) platform. If you are a Contracting PLUS client we do all that for you. Our expert in-house tax team is at your disposal to assist you with all your tax queries, helping you maximise your income while staying tax compliant.

To obtain a tax number for freelance work in Ireland, you need to apply for a Tax Registration Number (TRN) for tax purposes through the Revenue website. Our team can complete this process for you when you set up through a Personal Limited Company. 

If you are operating as a freelancer or sole trader and you wish to use a business name that is different from your own legal name, you are required to register that business name with the Companies Registration Office (CRO). When you become a client with Contracting Plus, our team can advise you on this.

You will need to register for VAT if your income passes the threshold of €42,500 (for supplying services), and for the supply of goods if your annual turnover exceeds or is expected to exceed €85,000. You may not charge VAT or reclaim VAT on purchases unless you are registered for VAT. What are the VAT thresholds? (revenue.ie)

Sometimes, depending on the type of clients you work with, it can be beneficial to register for VAT, even if your turnover is below the threshold. We’ll figure this out with you in a conversation once you become a client.

It depends on your specific needs, the nature of your work and your long-term goals. We can operate payroll for any employees you take on, but you should consider your employer responsibilities – for example, Employers PRSI, sick leave, insurances etc. You may wish to instead engage talent who are other freelancers or self-employed professionals. They operate as their own business and will simply invoice you for the amount agreed. Talk to us if you’re considering adding to your team and we can advise on the best route!

There are many, many options to choose from and they all vary in cost and functionality.

As a client you’ll get accounting software and expense apps to use for free, saving you money.

We also look after your bookkeeping as well as the usual accounting and tax using our online accounting software. With our online portal and bespoke expenses app, you are able to:

• Submit your timesheets & expenses.
• Store all your payslips, so you can review them any time.
• Check your invoices whenever you need to.
• Have all your company and contract details available in one place, for easy reference.

In general, you will pay income tax on your profits, which are your income minus your expenses. You will also pay PRSI and USC on your income. The key is to figure out how much of what you earn each month should be saved away to pay your tax bill.

We can work with you to estimate how much you think your income will be this year. From that we’ll be able to suggest a % of every invoice you should put away toward your tax bill. We try to make things easy for you and eliminate any surprises.

It’s hard to spend money you don’t have in your bank, so we recommend making regular payments to the Revenue Commissioners throughout the course of the year. We can set these payment up for you on different days, for different amounts. We recognise your income may not be the same every month.

If you’d rather keep your money for tax separately and give it to Revenue at the end of the year, then we always recommend having a separate bank account, or a ‘vault’ if using an online bank, so your tax money is separated from your working capital.

You should always know what your skillset is worth. Consider whether you’ll charge per day, per hour, or per piece of work. To benchmark yourself against others in your industry, ask around or check out online salary guides or reports. Ireland’s Project Economy, an annual survey completed by Trinity Business School, includes plenty of information on what rates freelancers and contractors are on in many different sectors. Our Day Rate Calculator might be helpful to use also.

As a freelancer, attending networking events, having a solid business social media page, and collaborating with recruitment agencies can all be fantastic ways to discover new business opportunities. Read our blog Top 5 Tips to Becoming a Successful Contractor for more tips on how you can gain new clientele.

A sole trader is an individual running their own business. As a sole trader, you and your business are considered the same legal entity. This means you’re personally responsible for any debts or legal claims against your business.
On the other hand, a Limited Company is a separate legal entity from its owner, protecting you and your business. To set up a Personal Limited Company contact us on (01) 611 0707.

It’s best practice to have a separate business bank account just for business transactions. This keeps your business and personal finances separate, which makes reporting and returns of income much easier to complete.

When you work with us we will set up your business account for you taking away any hassle involved! Talk to a member of our team on (01) 611 0707.

To register with Revenue, you can use their online service MyAccount. The service allows you to sign up for an account and register your first job with Revenue once you provide them with ID and a few details about your role. Once you have registered it will ensure that the correct amount of tax is deducted from your income.

Once you’re a client, we look after all Revenue correspondence on your behalf.

The income tax return deadline in Ireland is 31st October. We can help you submit all self–assessment income tax documents by this date. If not, you may be liable to pay penalty fees. But don’t worry your Dedicated Account Manager will remind you when it’s close to the time.