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
MAKESWORTH LIMITED
Makesworth
Accountants is an award-winning accountancy practice of Chartered
Certified Accountants tax and business advisors. We a...
See More
Taxeasy Ltd
TaxEasy Ltd is an experienced and proactive firm of certified accountants and bookkeepers offering high quality accounting services to clients through...See More
Yourtaxhelp
Our motto is “Accountants and Tax Advisers with simple technology”. We will not stop being innovative or using cutting edge technology to help you out...See More
MARK SASTA & ASSOCIATES
Mark Sasta & Associates Ltd is a member firm of the Institute of Chartered&nbs...
MINT FORMATIONS LTD
We have over 100 years of combined industry experience, having worked with hundreds of startups and small businesses in every industry imaginable. We ...See More
Numerii Ltd
Informed financial support for your business. We are a small, friendly and highly motivated team who offer a professional and efficient service to our...See More
City Tax London
City Tax London provides unparalleled personalized accounting services and th...
EXPEDIENT ACCOUNTANCY
Expedient Accountancy Limited provides a wide range of expert accounting services. We are a partnership of 3 Chartered Certified Accountants with more...See More
Hayes Accountants
Hayes Accountancy is your local accountancy service provider & part of the group BNW Accountants & Tax Consultants. We offer high-quality accounting a...See More
Not Just Bookkeeping Ltd
Friendly Consulting offers a wide range of consulting services for several indu...
See More
Financial Partnership London
The Financial Partnership LLP, London, is a young, dynamic and innovative firm of Accountants & Business Advisors who can help improve the performance...See More
Startup Accountants
Our startup accountants London operate with a specific approach to keep your business afloat. Gradually positioning it where you have dreamt it to be....See More
ION Chartered Accountant
ION Chartered Accountants are a boutique accountancy and consulting practice that supports small and medium enterprises in a wide range of business se...See More
" Accountify – Chartered Certified Accountants"
A firm of Chartered Certified Accountants based in London and Portsmouth. Accountify is an established brand in Accounting and Tax, serving its client...See More
Clear House Accountants
Clear House Accountants are Performance-driven Business Accountants in London. We are Chartered Accountants focused on helping startups and small bus...See More
Fitzgeralds Accountants Limited
We are a well established firm of accountants and tax advisors based in South West London, dealing with small businesses and high net worth individual...See More
1ST FORMATIONS LIMITED
1st Formations is a leading online company formation agent in the UK. We offer a comprehensive selection of company registration packages and address ...See More
Frequently asked questions
What records do I need to keep for my sole trader tax return?
You should keep records of all income and expenses related to your business, including sales receipts, purchase invoices, bank statements, and records of any personal money used for business purposes. HMRC requires you to maintain these records for at least five years after the 31 January submission deadline. Using accounting software can simplify this process, but a professional accountant can help you set up an efficient system that meets legal requirements.
How can an ACCA or ICAEW accountant help with HMRC enquiries?
If HMRC opens an enquiry into your tax return, an ACCA or ICAEW qualified accountant can act as your agent. They will handle all correspondence, prepare the necessary evidence, and represent you during discussions with HMRC officers. This reduces your stress and ensures that your rights are protected. The accountant will also review your records to identify any errors and negotiate a fair settlement if any additional tax is due.
What is the difference between a sole trader and a limited company for tax purposes?
As a sole trader, you pay Income Tax and National Insurance on your profits through Self Assessment. A limited company pays Corporation Tax on its profits, and you may take a salary and dividends. Many sole traders choose to remain unincorporated because it is simpler, but an accountant can compare your projected profits and advise on the most tax-efficient structure for your circumstances, including the impact on your personal liability.
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. Even if you are below this limit, voluntary registration can be beneficial if you incur VAT on business purchases or supply goods to VAT-registered customers. An accountant can help you decide whether to register voluntarily and manage your quarterly VAT returns, ensuring that you claim all allowable input tax and meet HMRC deadlines.
How often should I meet with my accountant to review my finances?
Most sole traders benefit from a quarterly review, especially if their income fluctuates or they have significant expenses. Regular meetings allow your accountant to update your tax projections, adjust your payments on account, and identify any cash flow issues before they become serious. An annual meeting before the January deadline is essential, but more frequent contact helps you plan for tax bills and business investments effectively.
What expenses can I claim as a sole trader to reduce my tax bill?
You can claim expenses that are wholly and exclusively for business purposes, including office costs, travel, equipment, marketing, and professional fees. If you work from home, you may claim a proportion of your household bills based on the space used. An accountant will ensure that you claim all allowable deductions, such as the simplified expenses flat rate for vehicle use, and that you do not overclaim personal items, which could trigger penalties from HMRC.
About Accounting Firms
AccountingFirms.co.uk is the UK's dedicated accountant comparison website, helping individuals, sole traders, landlords, startups, and SMEs instantly compare accountancy and tax fees from trusted UK accounting firms.
Find and connect with qualified accountants, tax advisers, bookkeepers, and business advisers using advanced search filters, verified profiles, and genuine reviews aggregated from Google, Trustpilot, Yelp, and other trusted platforms.
Over 26,000+ UK Accountants in One Place
Explore the UK's largest independent directory of accountants regulated by professional bodies including ICAEW, ACCA, AAT, CIMA, CIPFA, AIA, IFA, and other recognised UK accountancy bodies.
Affordable Online Accounting Services
Buy fixed-fee accounting packages online with confidence. Services are delivered by experienced UK-qualified accountants and tax advisers, covering:
A Marketplace for Accountants
For accounting firms, AccountingFirms.co.uk is more than a directory. It's a powerful lead generation platform, accountant marketplace, and business growth hub, helping practices attract new clients, increase online visibility, generate qualified leads, and win more accounting and taxation work across the UK.