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
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
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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...
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
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
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MARLIS BOOKKEEPING & ACCOUNTANCY
The team comprises of Marion and Lisa, a mother and daughter combination, who offe...
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
Financial Claims Consultants
Financial Claims Consultants offer No Win No Fee Pension Claims – we help clients&...
Bell Stanley Accountants
Welcome to Bell Stanley Accountants page.
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
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
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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
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 specific services do accountants for sole traders typically provide?
Accountants for sole traders offer a range of services including preparing and filing your annual Self Assessment tax return, calculating your Class 2 and Class 4 National Insurance contributions, and advising on allowable expenses. They can also help with VAT registration and returns, provide cash flow forecasts, and offer general business advice. Many firms also handle your bookkeeping, ensuring your financial records are accurate and up-to-date throughout the year, which saves you time and reduces stress at the year end.
How can an ACCA or ICAEW accountant help with an HMRC tax investigation?
If HMRC opens an enquiry into your tax affairs, having an ACCA or ICAEW qualified accountant is invaluable. They will act as your representative, handling all communication with HMRC on your behalf. They can review your records, prepare the necessary evidence, and construct a robust response to any queries. Their technical knowledge and experience with such investigations ensure that your rights are protected and that you have the best possible chance of a favourable outcome, reducing the stress and potential financial impact on you.
What is the difference between a sole trader and a limited company for tax purposes?
As a sole trader, you are personally responsible for your business's finances, and you pay Income Tax and National Insurance on your profits through Self Assessment. A limited company is a separate legal entity, where you pay Corporation Tax on profits and potentially Income Tax on dividends. Sole trader accounting is generally simpler, but a limited company can offer tax efficiencies and limited liability. An accountant can analyse your specific situation and advise on which structure is most beneficial for your circumstances.
How much does it cost to hire an accountant for a sole trader?
The cost of hiring an accountant for a sole trader varies depending on the complexity of your affairs, the level of service required, and the firm you choose. Some accountants charge a fixed monthly fee, while others charge a one-off fee for preparing your annual tax return. Many firms offer packages that include bookkeeping, tax return preparation, and ongoing advice. It is advisable to request quotes from several accountants and compare what is included in their fees to find the best value for your needs.
What records do I need to keep for my accountant to prepare my tax return?
To prepare your Self Assessment tax return, your accountant will need details of all your business income and expenses. This includes invoices, receipts, bank statements, and records of any personal income. You should also keep records of any purchases for business use, mileage logs for vehicle expenses, and details of any business rates or insurance. Keeping your records organised throughout the year will make the process much smoother and help ensure you claim all allowable expenses you are entitled to.
How can I find a reliable accountant in Glastonbury who understands my business?
Using a directory like AccountingFirms.co.uk is an excellent way to find a reliable accountant in Glastonbury. You can browse local firms, review their qualifications and specialisms, and read client testimonials. Look for accountants who are members of professional bodies such as ACCA, ICAEW, or AAT, as this ensures they adhere to high standards. It is also wise to arrange an initial consultation to discuss your needs and ensure you feel comfortable with their approach and that they understand the specific requirements of your sole trade.
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