Looking for an Accountant for Contractors? Relax! One of the Best Business Decisions You Will Make!
The Contractor Accountant
that helps you Relax!
We can be with you anywhere, anytime so relax, and lets make it feel like it’s Friday everyday!
Accounting for Tradies
Accounting for Freelancers
Accounting for Contractors
Accounting for Seasonal Work
We Want to Help You Realise Your Dreams.
A new accounting firm has just landed in NZ. Our business is based in NZ, our accountants live in NZ, we work for Kiwis who live in NZ, and we bring all the knowledge and expertise from our other successful accounting firms to specifically target sole traders and contractors.
Relax Accounting is owned by two Kiwis who live in Auckland, Greg and Helen. Back in 2003 when they were on their OE in the UK they came up with the idea of launching a new kind of accounting service specifically for contractors and freelancers. They charged a fixed monthly fee and developed their own online accounting software to specifically handle this niche market.
Since moving back to New Zealand in 2011 they have continued to run their overseas firms and are have taken all the best parts of that accounting service to drop onto the lap of sole traders, freelancers, and contractors who work in New Zealand.
Your own dedicated accountant will be by your side all the way. Their number one priority will be to ensure your contracting journey is an enjoyable one.
Relax! One of the Best Business Decisions You Will Make.
Let us help to take the guess work out of your future!
Working as a sole trader
Working as a sole trader is the most common form of trading structure that self-employed workers in NZ use. It’s simple to see why. The setup is extremely straightforward, administration is easy, and with our accounting software, Simplifi, it’s simple to track your income tax bills throughout the financial year along with any tax payments that are due.
Whether you are a tradie, IT consultant, engineer, health sector worker, someone who works in the creative industry, or any other type of consultant / freelancer, setting up to work as a sole trader is an easy route for self-employed kiwis, and your dedicated accountant at Relax Accounting will be ready to assist with tax advice, accounting support, and helping to file your tax returns. We find that most sole traders need the same accounting and tax support.
Working through your limited company
Running your own business through a limited company is another common trading structure for freelancers in contractors. The setup is a little more involved than registering as a sole trader, and there are a handful of extra reporting obligations that fall onto limited company workers. However, a lot of people enjoy the distinct separation between themselves and their business and this makes the use of a limited company attractive for a lot of people.
As you would expect, limited company contractors cover a broad range of business activities, and your accountant at Relax Accounting is ready to help.
Keeping this business financially fit
We all enjoy heading out to the gym (and playing the odd Wednesday night touch rugby game) to help keep our bodies fit and our minds active, and your business will also respond to being kept financially fit. This may mean keeping on top of your invoices, expenses, upcoming income tax and GST payments, and also making sure your bookkeeping is keeping up with the play. A financially healthy business can pay bills and file its tax returns on time, invest in new opportunities, and handle tough times. Plus, it helps you make smart business planning choices, attract people who want to help your business, and keep a good reputation. Our accountants at Relax Accounting are personal trainers for businesses, but we won’t yell at you to give us 20 more box jumps.
You need to register for Goods and Services Tax (GST) if your business sells taxable goods or services and you make over NZD $60,000 a year, or if you expect your turnover to exceed this threshold in the next 12 months.
Once you become GST registered you have to start adding GST on your sales which effectively puts up your sale price by 15%. If your clients, or the people you sell to, are also GST registered then they can claim back the extra GST cost from the Inland Revenue which means they are not financially impacted at all.
Also, once you become GST registered you can start to claim back the GST on your business expenses which effectively lowers the cost of the purchase for you.
Of course, becoming GST registered means that you now need to start filing GST returns with the IRD. Most often our clients will file every two months or every six months (they can choose) and with our accounting software Simplifi this process is a breeze. Once your bank transactions are reconciled, your GST return will be automatically calculated. In fact, your accountant will be able to help you easily navigate the world of GST.
Want to talk to someone? We are always ready with professional advice. Send us a message or call 021760155
Send us a Message
Questions? Want to talk? Send us a message and we will get back to you at a time that is convient for you.
We Know What It Takes to be Successful.
Running your own company as a contractor can be hugely rewarding, but it also comes with its fair share of responsibilities. One of the most important is keeping accurate and up-to-date accounts. This can be time-consuming and challenging if you don’t have the right tools at your disposal. Luckily we have all the answers.
We are working to get ourselves set up, but in the meantime we are more than happy to anwer any questions you may have so please feel free to contact us. We are always happy to talk.
In the meantime – here is an indicaiton of what we consider standard as part of our service.