Accountant for Influencers

Specialist Accountants For Influencers

If you have developed a strong following on social media and become trusted for your online recommendations of particular products or services, you might not have realised that there is a specific, marketing-related word for your role: that of an ‘influencer’.

Influencers are so-called as they are influential in driving their followers’ purchasing decisions. This has led many brands to eagerly strike partnerships with influencers in a bid to tap into their readymade audience. This is when an influencer’s activity transitions from a hobby to work.

However, exactly because many influencers don’t initially see what they do as a business opportunity, many of them could remain naive about the accounting side of being an online content creator. That’s why they could benefit immensely from utilising an accountant for influencers.

What Does An Influencer Do?

The term ‘influencer’ might initially conjure up images of bikini-clad celebrities sharing photos of their Hawaiian holidays on Instagram and enthusing about the local cocktails. However, the remit of influencers can be much broader than this perception might suggest.

Influencers can differ significantly in their interests, pursuits and followings. Some influencers might give business advice, while others could review phones, cameras and other consumer electronics. Young influencers might advocate particular health, fitness and beauty products.

Whatever your own passion, you could have already made an influencer career out of it — in which case, you might regularly be striking new deals with brands, promoting giveaways and embarking on holidays. So, what implications could all of this have for your accountant?

Why Influencers Should Look To Specialist Accountants

Given that an influencer can be involved in a staggeringly broad range of endeavours, it stands to reason that factoring all of this into your accounts can be like traversing a minefield. You might not have the specialist expertise needed to make sure all of these accounts are correct.

The same could be said of a traditional accountant — especially since the influencer industry is relatively new and so beyond the expertise of many standard accountants. Hence, it could be worth your while to hire a specialist accountant for influencers.

This accountant will be able to assist you at various stages of your influencer journey — from incorporating a new company to setting up a business bank account and organising tax returns, along the way treading carefully to make sure you are not hit with any penalties by HMRC.

What exactly would you need to declare to HMRC on those tax returns, and could claim tax reliefs for? The right accountant will be able to address these subjects when working with you — and find ways for you to trim your tax liability without imperilling your tax compliance.

If the business grows to the extent that you start looking to recruit staff, you can also be educated on how to start and run a payroll so that your employees get paid as and when they should.

We Offer The Right Accountant For Influencers

We run a completely free service where we are able to match influencers with top accountants from our respected network of finance professionals. For further details of how it all works, please contact us here.