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Online accounting service to support homeworking sector

Homeworkers have welcomed a new online accounting venture providing access to finance and tax specialists who offer advice on everything from offsetting costs against tax, to setting up a home office.

Backed by the chairman of internet voice calls company Skype and the co-founder of social networking site Bebo, is described as the UK's first combined online accounting system and accounting practice dedicated to freelancers, contractors and independent consultants across all professions.

Skype chairman Michael van Swaaij says the service will help boost the productivity of homeworkers and micro companies and thereby support "an increasingly important part" of the economy, which has blossomed because of economic uncertainty and mass redundancies.

"The accounting industry is ripe for some disruption in order to make it more efficient, lower-cost and less time-consuming for freelancers," he remarks.

"Freelancing is booming and here to stay as a form of employment, giving millions of people access to work and income otherwise out of their reaches."

For a fixed monthly fee, Crunch gives homeworkers access to accountants and tax specialists to address queries, help set up sole traders as Limited Companies, check VAT returns before submission and advise on all aspects of their accounts.

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