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
Pepperhill Associates
Xero Certified Adviser - Remote service taking care of all your bookkeeping needs. Providing a professional, confidential, flexible and reliable bookk...See More
Holdsworth Accountancy
We are a team of experienced, qualified accountants and bookkeepers providing professional services to individuals and businesses within Bradford and ...See More
MGM & CO. Chartered Certified Accountants
If you are looking for professional accountants offering a full range of accountancy and tax services to clients from across the UK, you have come to ...See More
Clarity Accountants
We work closely with our clients and act for a broad range of business and personal clients. Apart from the more general accountancy services we can a...See More
LLOYDS ACCOUNTANTS LTD
We offer accounts, taxation and business advisory and support services to a wide range of businesses and individuals, nationwide. We continue to build...See More
Harris Rosenberg Chartered Accountants
We help small-scale and early-stage businesses get to where ...
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Cheaper Accountant
We're the UK's leading low cost accountants. Simple & affordable fees with Company Accounts & Co. Tax Retu...See More
GORILLA ACCOUNTING LIMITED
orilla Accounting was born after a group of specialist accountants with decades of experience amongst them, decided that accounting shouldn’t be a lab...See More
PAYLESS ACCOUNTING & OUTSOURCING LIMITED
We provide businesses with greater flexi...See More
Accounting 4 Ltd
Registered practice offering accountancy services from Bookkeeping, Payroll, Vat, Self Assessment, Small Limited Company accounts etc Qualified to AAT...See More
Athena Bookkeeping Services
Athena Accounting and Bookkeeping Services. ?Let us take good care of your finances giving you more time to focus on the day to day running of your bu...See More
GE ACCOUNTANCY LTD
Specialist Motor Trade Accountant with over 20 years. Accountancy & Book Keeping Services offered including VAT Preparation & Submission, Self Assessm...See More
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Norbury Bookkeeping Services
We offer a complete bookkeeping and computerized payroll service throughout Cheshire and South Manchester and are able to offer support for all financ...See More
NIXON WILLIAMS LIMITED
Nixon Williams has been providing specialist accountancy services to contractors, freelancers, consultants and interim professionals throughout the UK...See More
Sambhav Management Limited
Since 2012, we’ve offered clients the tools, resources and guidance necessary for all their accounting needs. Clients receive the personalized attenti...See More
C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken
Holden Associates
Holden Associates are a family run business founded in 2002, we are located at V12, Merlin Park, a modern purpose-built office in Burscough, Lancashir...See More
Mind Your Assets Accounts
Mind Your Assets Accounts is based in Sheffield, South Yorkshire, with offices also in Manchester and London. We have over 20 years accountancy expe...See More
Frequently asked questions
What records do I need to keep as a sole trader for my accountant?
As a sole trader, you must keep records of all your income and expenses. This includes receipts, invoices, bank statements, and any records of personal money taken from the business. Your accountant will use these to prepare your Self Assessment tax return accurately and to ensure you claim all allowable expenses. Keeping organised records throughout the year makes the process smoother and helps you avoid missing deadlines.
How can an ACCA or ICAEW accountant help with my tax return?
An accountant who is a member of ACCA or ICAEW has undergone rigorous training and adheres to strict ethical standards. They can prepare and file your Self Assessment tax return with HMRC, ensuring that your figures are correct and that you pay the right amount of tax. They also provide advice on tax planning, helping you reduce your liability legally and avoid penalties for late or incorrect submissions.
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. However, you can also choose to register voluntarily if it benefits your business, for example, if you sell to VAT-registered customers. An accountant can help you decide whether voluntary registration is worthwhile and assist with the registration process and ongoing VAT returns.
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. Each structure has different administrative burdens and tax implications. An accountant can explain the pros and cons of each based on your income, growth plans, and personal circumstances.
How often should I meet with my accountant in Skipton?
Most sole traders meet their accountant at least once a year to prepare their tax return. However, more frequent meetings, such as quarterly or bi-annual reviews, can be beneficial for cash flow management and tax planning. Your accountant can help you set a schedule that suits your business needs, ensuring you stay on top of deadlines and make informed financial decisions throughout the year.
What should I look for when choosing an accountant for my sole trader business?
Look for a qualified professional who is registered with a recognised body like ACCA, ICAEW, or AAT. Check their experience with sole traders in your industry, their fee structure, and whether they offer services you need, such as bookkeeping or VAT advice. It is also important to choose someone you feel comfortable communicating with, as they will be handling your financial affairs.
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