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
Woody's Payroll & Bookkeeping Services
Here at Woody's we have years of experience in providing a dedicated, professional and highly personal service to our clients. We offer a wide range o...See More
Bell Stanley Accountants
Welcome to Bell Stanley Accountants page.
Purnells - Licensed Insolvency Practitioners
As insolvency practitioners we also specialise in interpreting the legislation set out in The Insolvency Act 1986, The Insolvency (England and Wale...
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MARLIS BOOKKEEPING & ACCOUNTANCY
The team comprises of Marion and Lisa, a mother and daughter combination, who offe...
Williamslester Brilliant Accounting Services
Our range of services are provided by fully qualified and experienced staff who always monitor, advise and review both new and existing clients. This ...See More
Kings Oak Accountancy
Accountants based in Bristol, Bath & Somerset providing accounting and tax services to small and medium size owner-managed businesses. Our services in...See More
KINGS OAK ACCOUNTANCY (SOMERSET) LTD
We are a small firm of Accountants based in Somerset. Michael is a fellow of the Chartered Institute of Management Accounting with over 30 years expe...See More
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HUBBLE ACCOUNTANCY LTD
This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.
TKI Bookkeeping & Accounts
Hello and welcome to my site, I am qualified by the The Institute of Certified Bookkeepers and have attained highest level qualification, Level 4 Dipl...See More
Financial Claims Consultants
Financial Claims Consultants offer No Win No Fee Pension Claims – we help clients&...
SG CONTRACTOR ACCOUNTING LIMITED
SG Accounting was established in 1995 to service the accountancy and taxation needs of professional contractors and freelancers. We are based in Winc...See More
Modus Accountants Limited
Whether you are looking for advice, inspiration, accountancy services or all three, our integrated services will provide as much or as little su...See More
DEAD SIMPLE ACCOUNTING LTD
Dead Simple Accounting is an expert accounting firm based in Reading, Berkshire. We’ve been supporting the local business community in Reading with a ...See More
Turner Barratt
At Turner Barratt we believe that we have something unique to offer. Just Corporate Finance Turner Barratt are Chartered Accountants who are dedicate...See More
Accounting etc. limited
We are a small firm of Chartered Management Accountants dedicated to providing you with a high quality accountancy service and sound business advice a...See More
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R Albert Accountancy Ltd
We are an AAT Licensed accountancy practice providing a professional and friendly service. A new accountancy practice offering fantastic one to one s...See More
QUENTELA ACCOUNTING LIMITED
Quentela Accounting is a family run accountancy practise based in Wokingham, Berkshire. We are a small business but with an emphasis on BIG commitment...See More
ADD- WORTH ACCOUNTANCY LTD
Helping business owners make sense of their numbers. 30+ years of progressive finance and accounting experience in various industries. Offering expert...See More
Frequently asked questions
What does an accountant for sole traders do?
An accountant for sole traders helps you manage your finances, prepare your Self Assessment tax return, and ensure you meet HMRC deadlines. They also advise on allowable expenses, VAT, and record keeping. By analysing your income and outgoings, they help you reduce your tax bill and improve profitability. They act as a trusted adviser, offering guidance on business decisions and helping you plan for the future. With their support, you can focus on running your business whilst staying compliant with tax laws.
Why should I use a qualified accountant rather than doing it myself?
Using a qualified accountant with ACCA, ICAEW, or AAT accreditation ensures your accounts are accurate and compliant. They have in-depth knowledge of HMRC rules and tax legislation, which reduces the risk of errors and penalties. They also save you time and can identify savings you might miss. A professional can help you plan your finances strategically, giving you confidence in your business decisions. Their expertise is especially valuable as your business grows and your tax affairs become more complex.
How much does an accountant for a sole trader cost?
The cost of an accountant for a sole trader varies depending on the services you need and the complexity of your affairs. Some accountants charge a fixed fee for preparing your tax return, whilst others offer monthly packages that include bookkeeping and ongoing advice. Fees typically range from £150 to £500 per year for basic services, but this can be higher for more comprehensive support. It is wise to compare quotes from several firms to find one that fits your budget and provides the level of service you require.
What records do I need to keep for my sole trader accountant?
You need to keep records of all your income and expenses, including sales invoices, receipts, and bank statements. You should also track any personal money used in the business and keep records of assets you buy or sell. HMRC requires you to keep these records for at least five years after the 31 January submission deadline. Your accountant can help you set up a simple system to organise your paperwork. Using accounting software can make this easier and ensure you have accurate information ready for your tax return.
Can an accountant help me with VAT registration for my sole trade?
Yes, an accountant can help you decide whether VAT registration is beneficial for your sole trade. If your turnover exceeds the current threshold, you must register for VAT. Even if you are below the threshold, voluntary registration might be advantageous if you can reclaim VAT on your purchases. An accountant will analyse your situation and advise on the best approach. They can also help you complete the registration process and manage your VAT returns, ensuring you remain compliant with HMRC.
What is the deadline for submitting a Self Assessment tax return?
The deadline for submitting a paper Self Assessment tax return is 31 October following the end of the tax year. For online submissions, the deadline is 31 January the following year. You also need to pay any tax you owe by 31 January. If you miss the deadline, you will face penalties. An accountant can help you prepare and submit your return well before the deadline, giving you peace of mind and avoiding unnecessary fines. They can also help you set up a payment plan if you cannot pay in full.
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