Accountants for Electricians

Why Electricians Need Specialist Accountants

Electricians deal with unique financial challenges, such as CIS (Construction Industry Scheme) deductions, irregular income, and business expenses related to tools, vehicles, and insurance. Unlike general accountants, electrician accountants understand the industry's tax rules, allowable expenses, and VAT schemes.

A specialist electrician accountant can help with:

• CIS accounting, making sure deductions and refunds are correct
• Bookkeeping for electricians to track income and expenses
• VAT returns and advice on the best accounting software for electricians
• Payroll and subcontractor payments for those hiring a team
• Tax planning to reduce liability and boost profit

CIS Accounting for Electricians

Many electricians work under the Construction Industry Scheme (CIS), which affects how they get paid and taxed. CIS applies to electricians who operate as subcontractors for contractors in the construction industry. Instead of receiving full payment, contractors deduct 20% (if registered) or 30% (if unregistered) from their earnings and send it to HMRC as an advance tax payment.

This system helps HMRC collect tax throughout the year, but it also means many electricians overpay and need to claim refunds. Without proper records, claiming back tax can become a hassle. Electrician accountants help manage CIS payments, file tax returns correctly, and reclaim any overpaid tax.

Managing CIS Deductions and Claims

Keeping track of CIS deductions is important for electricians to avoid losing money. Contractors should provide a CIS deduction statement each month, showing how much tax has been taken. Electricians need to keep these records for tax filing and refunds.

A chartered accountant for electricians can:

• Record all CIS deductions to calculate tax accurately
• Claim back overpaid CIS tax through the self-assessment tax return
• Advise on tax planning to reduce liability and improve cash flow

Some electricians choose to register as a limited company to be classed as a contractor rather than a subcontractor. This can help reduce CIS deductions, but it also comes with extra responsibilities like payroll, VAT, and corporation tax.

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Why Choose GoForma as Your Accountants for Electricians?

Choosing the right electrician accountant can make a big difference in managing your finances and saving tax. Here’s why electricians across the UK trust us:

Specialists in Accounting for Electricians

Working with chartered accountants for electricians means getting advice tailored to the electrical trade. From tax savings to bookkeeping, industry experts handle financial matters, so electricians can focus on their work.

Dedicated Accountant for Electricians

You’ll get a dedicated electrician accountant who understands the unique financial challenges you face. Whether it’s handling CIS deductions, bookkeeping for electricians, or VAT returns, no dealing with multiple advisors - just expert guidance when you need it.

Experts in CIS & VAT

Handling CIS deductions and VAT schemes can be tricky. Our team helps you claim back overpaid tax, register for VAT, and choose the best scheme to maximise savings.

Free Cloud-Based Accounting Software

We provide FreeAgent at no extra cost, making bookkeeping for electricians simple. Track expenses, send invoices, and manage tax returns from anywhere.

Fixed Monthly Fee

Get transparent pricing with a fixed monthly fee. No unexpected charges, just reliable accountancy services for electricians at an affordable rate.

Certified and Trusted Accountants

Our chartered accountants for electricians are fully certified and have years of experience working with tradespeople, helping them manage finances effectively.

Smart Tax Planning

Proactive tax planning helps electricians keep more of their earnings. Our chartered accountant for electricians identifies tax-saving opportunities and maximises deductions to reduce liabilities.

Proactive Tax Reminders

Proactive tax reminders help electricians stay on top of key dates for CIS returns, VAT filings, and self-assessment taxes. Avoid penalties and late fees with timely alerts.

Unlimited Support

Got a question? Need help with your accounts? We offer unlimited support through email, WhatsApp, and phone calls, so expert advice is always available.

Seamless Accountant Switching

Not happy with your current accountant? We handle the entire accountant switching process, making it easy to move to our services without any hassle.

Our Accounting Services for Electricians

CIS Accounting for Electricians

Our electrician tax accountants handle CIS deductions, refunds, and tax filings to help subcontractors and contractors stay compliant while claiming back overpaid tax.

VAT Registration & Returns

Whether you need to register for VAT or file quarterly returns, expert accountants manage everything. With Making Tax Digital (MTD) compliance, VAT records stay accurate, reducing the risk of penalties.

Cash Flow & Financial Forecasting

Strong cash flow is key to running a successful electrical business. Accountants help track income, expenses, and future costs, so electricians can plan ahead and avoid cash shortages.

Smart Income Structuring

A well-planned income structure can reduce tax liabilities and improve earnings. Our tax accountants for electricians offer tailored advice, helping electricians keep more of their money legally.

Choosing the Right Business Structure

Not sure whether to operate as a sole trader or limited company? Our experts provide clear advice on what’s best for your electrical business.

Self-Assessment Tax Returns

We take care of your Self-Assessment tax returns, helping you submit accurate figures and claim all allowable expenses.

Bookkeeping Using FreeAgent

Using FreeAgent accounting software, we handle bookkeeping for electricians, including quarterly reviews to check for errors and missed deductions.

Company Formation & Registration

Electricians setting up a limited company get full company registration support, covering Companies House filings, HMRC setup, and legal paperwork.

Tax Planning & Advice

Smart tax planning can help reduce your liabilities. We offer year-round advice to help you keep more of your earnings.

Company Accounts & Corporation Tax Returns

For limited companies, we prepare annual company accounts and submit your corporation tax return accurately and on time.

Payroll & Subcontractor Payments

If you employ staff or subcontractors, our accountants manage PAYE, NIC contributions, and CIS payments for subcontractors, keeping you compliant with HMRC.

Tax Compliance Without the Stress

Accountants handle tax compliance so electricians don’t have to worry about missing deadlines or making costly mistakes. From VAT to corporation tax, everything is managed professionally.

Get Started with the Expert Electrician Accountants

We make accounting simple for electricians with a smooth and hassle-free process. With our accountants for electricians, you get expert support to handle CIS accounting, VAT returns, and payroll, so you can focus on growing your business.

Ready to simplify your accounting? Book a free consultation with our electrician accountants today!