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
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
KUBED SOLUTIONS LIMITED
Gouri Kubair, the founding director of the business has over a decade of experience in the field of accountancy. Including 8 years in Deloitte, ...See More
MARK SASTA & ASSOCIATES
Mark Sasta & Associates Ltd is a member firm of the Institute of Chartered&nbs...
MAKESWORTH LIMITED
Makesworth
Accountants is an award-winning accountancy practice of Chartered
Certified Accountants tax and business advisors. We a...
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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
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
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
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
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
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
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
MADE SIMPLE GROUP LIMITED
Founded in 2003, we've formed over 1 million companies and helped thousands of business owners start, run and grow their business. We help you form ...See More
GOFORMA LIMITED
GoForma is a trusted team of accountants in UK, helping contractors, freelancers, sole&...
TIDE PLATFORM LTD
Tide is about doing what you love We believe the world would be a better place if more people gave it a shot. It’s why we’re building a modern busin...See More
Persona Finance
Persona Finance is a London accounting company with an office at 63/66 Hatton Garden in London. Due to the lock-down, we are happy to provide ou...See More
Not Just Bookkeeping Ltd
Friendly Consulting offers a wide range of consulting services for several indu...
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Frequently asked questions
What services do accountants for sole traders typically provide?
Accountants for sole traders offer a range of services including preparing and submitting your Self Assessment tax return, bookkeeping, VAT returns, and financial advice. They help you identify allowable expenses, ensure compliance with HMRC, and can assist with tax planning to minimise your liabilities. Many also provide payroll services if you employ staff, and offer ongoing support to help your business grow.
How can an ACCA or ICAEW accountant help with HMRC compliance?
An ACCA or ICAEW qualified accountant has in-depth knowledge of HMRC regulations and tax laws. They ensure your tax return is accurate and submitted on time, reducing the risk of penalties. They can also handle HMRC correspondence on your behalf, advise on VAT obligations, and help you understand your tax code. Their expertise keeps you compliant and up to date with any changes in legislation.
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 via Self Assessment. A limited company is a separate legal entity, paying Corporation Tax on its profits, and you may take a salary and dividends. Accountants can advise on which structure suits your circumstances, considering factors like liability, tax efficiency, and administrative burden.
How do I choose the right accountant for my sole trade?
When choosing an accountant, consider their qualifications, experience with sole traders, and familiarity with your industry. Look for memberships with recognised bodies like ACCA, ICAEW, or AAT, as these indicate professional standards. Check client reviews and compare fees. A good accountant should communicate clearly, understand your business goals, and offer proactive advice to help you succeed.
Can an accountant help me with VAT registration and returns?
Yes, accountants can assist with VAT registration, advise on whether you need to register voluntarily, and prepare your VAT returns. They ensure you claim the right input tax and charge output tax correctly. They can also help with schemes like the Flat Rate Scheme, which may simplify your accounting. Their expertise ensures you remain compliant with HMRC and avoid costly errors.
What records do I need to keep as a sole trader for my accountant?
You should keep records of all income and expenses, including receipts, invoices, bank statements, and details of any business mileage. Also retain records of any personal money introduced into the business or taken out. Your accountant will use these to prepare your tax return and ensure you claim all allowable deductions. Good record-keeping makes the process smoother and more accurate.
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