ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More
OVAL ACCOUNTANTS LTD
Your Bookkeeping, Accounting And Self Assessment Experts, Here To Bring You The Highest Standard Of Service.
Cruse+Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
Owadally & Kings Partnership
At O&K we aspire to be one of the most forward thinking accountancy firms in Croydon. Our dedicated in-house team, and external specialists, based in ...See More
Cruse + Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
APRC Accountants
We are a forward thinking firm of Chartered, Certified Public Accountants & Tax Advisers and Chartered Payroll Professionals established in 2005 in th...See More
Marden & Co Accountants Ltd
We are a two partner accountancy practice based in Epsom, serving Sutton, Banstead, Reigate, Dorking & across Surrey. We provide professional accounta...See More
Taxaccolega Chartered Accountants & Tax Advisers
As one of the brightest firms of chartered accountants in London, UK, Taxaccolega, based in Croydon, combines the passion and creative thinking of a s...See More
EFJ CONSULTING LTD
We are the firm of Chartered Certified Accountants based in London. We provide professional and practical help with all aspects of accountancy and tax...See More
Central London Accountants
We are proud partners of leading software provider firm Xero, and we can help if you require Xero Accountants in London, Xero training, or need remote...See More
London Accountants
We have been providing a range of tailored accounting and taxation services to individuals as well as small and medium sized businesses. See More
Cheap - Accountants
As a small business owner, your main focus is to work on your business strengths to help it grow, and you can’t just achieve it through juggling every...See More
Abu Umar & Co.
Welcome to Abu Umar & Co. We are a small Accounting firm, based in London, We specialize in dealing with all accounting problems. As we have been o...See More
Tax Cruncher
Tax Cruncher is an online accounting &Tax consulting firm serving clients nationwide. Our aim is to help SMEs to grow their business by crunching thei...See More
Coman And Co Ltd
Chartered Tax Advisers and Chartered Certified Accountants, we offer assistance with tax return compliance and specialist tax consultancy services for...See More
Accounting Made Simple
Accounting Made Simple is a tech-savvy accountancy and bookkeeping organization located in London which assists clients to ru...See More
MONEYTREE FINANCIAL LTD
Moneytree Financials' focus is to provide clients with useful, relevant and meaningful services aimed at supporting and guiding your business as it mo...See More
Frequently asked questions
What records do I need to keep as a sole trader for my accountant?
As a sole trader, you must keep records of all income and expenses, including sales, purchases, bank statements, and receipts. Your accountant will use these to prepare your Self Assessment tax return and ensure you claim all allowable deductions. Keeping organised records throughout the year simplifies the process and helps you avoid penalties for late or incorrect submissions.
How can an ACCA or ICAEW accountant help with HMRC tax returns?
An ACCA or ICAEW qualified accountant has in-depth knowledge of HMRC rules and regulations. They can prepare and submit your Self Assessment tax return accurately, advise on allowable expenses, and ensure you pay the correct amount of tax. They also handle any HMRC correspondence on your behalf, reducing the risk of errors and helping you stay compliant.
Do I need to register for VAT as a sole trader?
You must register for VAT if your taxable turnover exceeds the current threshold, which is £90,000 for most businesses. Even if you are below this, voluntary registration can be beneficial if you incur VAT on business purchases. An accountant can advise whether VAT registration is right for you and manage your returns to HMRC.
What is the difference between a sole trader and a limited company for tax purposes?
As a sole trader, you are personally responsible for business debts and pay Income Tax on your profits. A limited company is a separate legal entity, subject to Corporation Tax, and offers limited liability. Your accountant can help you compare the tax implications, administrative burdens, and legal protections to decide which structure suits your business best.
How often should I meet with my accountant for sole trader advice?
It is wise to meet with your accountant at least once a year to review your tax return and plan for the year ahead. However, more frequent meetings can be beneficial, especially if your business is growing or you face significant financial changes. Regular communication helps you stay on top of tax deadlines and make informed decisions throughout the year.
Can an accountant help me if HMRC investigates my sole trader accounts?
Yes, an experienced accountant can represent you during an HMRC enquiry, helping you gather the necessary documents and respond to queries. They understand the investigation process and can negotiate on your behalf to resolve issues efficiently. Having professional support reduces stress and ensures your rights are protected throughout the process.
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