Social media has always had the capacity to drive trends within society, but the growth of content creators across social media platforms like Instagram, Twitter and Facebook, the continued rise of the YouTuber over the last 10 years, and more recently, the explosion of the TikTok star, has turned this sector into a multi-billion-pound industry.
With more and more entrepreneurs of all ages and backgrounds going viral across these platforms, it can be tricky to navigate earning an extra income that has developed from a hobby, often alongside a salary from a full or part time job. You may be just starting out in your career, doing social media full-time from the offset, and need support with your tax payments.
There are not many designated accountants for social media influencers out there – especially those with the amount of knowledge and experience you will get from an accountant at Gorilla Accounting.
Accounting for social media influencers is a specialist area. Your accountant needs to keep on top of the most recent trends and the different areas in which social media influencers and content creators can earn money. At Gorilla, you will find everything you need in a social media influencer accountant.
Making money on social media
There are different ways to make money on social media, and different opportunities are presented based on engagement, followers, and the content you may be creating.
Whether you’re earning an income from monetising your videos or posts, through brand deals, sponsorships, affiliates or subscriptions, you can earn £1,000 per tax year before having to worry. You can earn £1,000 tax free as the ‘trading allowance’.
If you will be earning more than this in a tax year, you will need to ensure that any income and expenses are tracked.
At Gorilla Accounting, we offer a wealth of simple, transparent accountancy services designed with the new world of social media influencers in mind. If you’re looking for a dedicated content creator accountant to help with accounting for Instagram, TikTok or any other social platform, we can support you from the very start of your journey.
From incorporating your new company and creating business bank accounts to arranging tax returns from monetised payments, we’ve got you covered.
If you’re looking for a social media accountant, we have a wealth of expert knowledge and experience. With a modern, tech approach to accounting, Gorilla is the UK’s No1 Accountancy Firm for content creators and social media influencer accounting
Benefits of joining Gorilla Accounting
The number of entrepreneurs with social influence has risen remarkably over the last 5 years, especially since the growing number of TikTok influencers have become more and more popular, many of which grew followers over lockdown.
With brand deals to manage and content to create, it can be tricky to keep on top of your finances, especially when you have multiple income streams.
For one fixed monthly fee, Gorilla Accounting can take away the stress of incorporating your business whilst handling the ongoing tax management responsibilities that come with being a successful social media influencer.
Once registered, you’ll be allocated a direct contact accountant whom you’ll deal with throughout your time with us. They’ll work with you to learn everything there is to know about your business, helping you to maximise your tax returns and ensure that you never have to pay more than what’s absolutely needed.
Unlike other online accountancy services, you’ll have a direct contact telephone number and e-mail address for urgent enquiries and will never be charged a penny extra for this uncapped service.
Under our Client Service Guarantee, if you contact your accountant before 3pm, they will get back in touch with you that very same day. That way, you don’t have to worry about anything else – just concentrate on your day-to-day.
With Gorilla Accounting, you will also get full, unrestricted access to one of the world’s leading online accountancy software packages, FreeAgent. Keep right up to date with your business finances no matter where you are with this detailed, user-friendly software – all included as part of your Gorilla Accounting subscription.
How can FreeAgent help me?
As a social media creator, you’ll be used to having everything in one place on your smartphone. With apps for everything you need to run your business through your phone, including social platforms, editing software and your emails, it makes sense for you to manage your finances through your phone too.
FreeAgent can be accessed anywhere, at any time, as long as you have the internet. You can run your business wherever you are in the world, send invoices to brands you’re working with, log and track expenses and check your cash flow. You can also stay on top of your tax returns.
Your accountant can also access everything from their side too, making sure everything is in one place without searching through emails for things you’ve sent each other.
Join Us Today
Here's a look at just some of the other areas we cover for our fixed monthly fee of £95 per month plus VAT:
- Financial statements
- Corporation Tax returns
- Quarterly VAT returns
- Payroll for up to two employees
- Preparation and submission of P11d
- Self-assessment tax return
- Assistance with HMRC records checks
- Employment status references
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Show us some love and get rewarded.
Already built up a fantastic online following? Take advantage of our social media influencers partnership scheme and benefit from reduced rates whilst retaining complete access to our full portfolio of services.
Simply promote our services through your channels and receive a reduction on your Gorilla Accounting subscription. These are tailored discounts so get in touch with a member of the team today via our Contact Us page or call us directly on 0330 107 9675 for more information.