
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

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

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

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

MAKESWORTH LIMITED
Makesworth
Accountants is an award-winning accountancy practice of Chartered
Certified Accountants tax and business advisors. We a...
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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

MARK SASTA & ASSOCIATES
Mark Sasta & Associates Ltd is a member firm of the Institute of Chartered&nbs...

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

City Tax London
City Tax London provides unparalleled personalized accounting services and th...

DIrect Assist accountants Ltd
Direct Assist accountants Ltd is one of the fastest growing chartered accountants firm serving businesses and individuals from different industries fr...See More

SJD ACCOUNTANCY LIMITED
SJD Accountancy is the UK’s largest specialist provider of fixed fee, limited company accountancy services to contractors and freelancers; we’ve been ...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

Not Just Bookkeeping Ltd
Friendly Consulting offers a wide range of consulting services for several indu...
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BLUEBIRD ACCOUNTANCY LIMITED
Bluebird Accountancy was created with the needs of modern day contractors and freelancers like you in mind. With modern day accountancy software makin...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

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

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
Frequently asked questions
What services do accountants for sole traders typically offer?
Accountants for sole traders usually provide services such as preparing and filing Self Assessment tax returns, bookkeeping, VAT returns, and tax planning. They can also advise on allowable expenses, record keeping, and help with HMRC enquiries. Some may offer payroll services if you have employees, and they can assist with cash flow forecasting and business advice to help your enterprise grow.
How can an accountant help me save money on my taxes?
An accountant can identify allowable expenses you may have overlooked, ensure you claim all relevant tax reliefs, and advise on the most tax-efficient way to structure your business. They can also help you plan for tax payments, avoiding late payment penalties, and suggest strategies to reduce your overall tax bill. Their knowledge of current tax laws is invaluable for minimising your liabilities.
What is the difference between ACCA, ICAEW, and AAT qualified accountants?
ACCA and ICAEW are professional bodies that qualify accountants to a high level, often dealing with complex corporate and personal tax matters. AAT qualifications focus more on practical accounting skills like bookkeeping and preparing accounts. All are recognised and regulated, but the choice depends on your specific needs. ACCA and ICAEW members usually have broader expertise, whilst AAT members are excellent for day-to-day financial tasks.
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 £85,000. However, you can also voluntarily register if your turnover is lower, which may be beneficial if you incur VAT on business purchases. An accountant can advise you on whether voluntary registration is right for you and handle the registration process with HMRC, ensuring you comply with all regulations.
What records must I keep for HMRC as a sole trader?
As a sole trader, you must keep records of all your income and expenses, including receipts, invoices, and bank statements. You also need to keep records of any personal income that affects your tax, such as from property or investments. These records must be kept for at least five years after the 31 January submission deadline. An accountant can help you set up an efficient system for tracking your finances.
How often should I meet with my accountant?
It is advisable to meet with your accountant at least once a year to review your accounts and prepare your tax return. However, many sole traders benefit from more regular meetings, such as quarterly or bi-annual, to discuss cash flow, tax planning, and any changes in your business. Your accountant can also be available throughout the year for advice on specific issues, so do not hesitate to reach out when needed.
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