Accountants for Architects
Just like any other normal people, architects need their own accountants in order to build better financial plans. The right accountants for architects must possess professional skills in order to help and guide them for all their financial situations. Let us dig deeper into the things that architects need to know about all their accounting needs.Get a Quote Now
What are the filing dates for architects?
The filing dates for architects depend on the type of entity their firm is operating under. However, most of them have a December year-end. For self-employed, the date is usually 5th April. The filing deadline for paper returns is 31st October and 31st January for electronic return. For companies, their corporation tax bill must be payable within 9 months and one day after the end of their accounting period.
What are the allowable expenses?
As an architect, there are allowable expenses that can be deducted from their tax. Some of these are expenses in travel which include parking, tolls, and taxis if you are required to travel for seminars or meeting. It also includes the cost of using your own car whenever you travel to attend training or meeting or if you need to pick supplies on different job sites. Work clothing, training, and work tools and equipment are also included in the allowable expenses. Other work expenses such as annual memberships, work-related books or magazines, mobile or telephone calls, and internet connection fees are also considered allowable expenses.
What type of accountancy services will architects need?
Whether you are with limited companies, or self-employed, architects need different accountancy services. For limited companies, services such as the director’s self-assessment tax return, payroll bureau, and dividends and corporation tax computations are needed by architects. On the other hand, self-employed architects need accounts, payroll, self-assessment tax return, and proactive tax advice throughout the year.