Accountants For Sole Traders and Self-Employed Businesses
Why do you need us?
If you are a sole trader running your own self-employed business, your time can be stretched, and keeping up to date with accounting and tax can often fall by the wayside. It is important to find a qualified accountant to make sure that you do not fall behind with your sole trader finances.
Where is your business now?
- You’ve just started out and are still unsure of all the things that you should be doing as a business owner
- Your business has been going for a while, things are getting busier, and you want some support to make sure you stay on the right track
- You’re starting to feel a little nervous now your business has started or is growing, and you want to feel more confident in your decisions
Tailored Advice for Sole Traders
- Our sole trader accounting service is tailored to match the requirements of your business, no matter what trade you are in.
- Our service provides you with the support and advice that will allow you to grow your business and ensure total transparency from the moment you start working with us.
- If you are just starting out as self-employed we will offer support to help you set up in the right way for your business and ensure you’re registered as a sole trader with HMRC. Setting Up as a Sole Trader
- You will have full access to our specialist accountants who offer bespoke advice and can help you on all your business accountancy requirements.
What do you get?
- We can complete all your bookkeeping (income and expenses) and we will prepare your sole trader accounts.
- If you want to complete your own bookkeeping, we can train you to be able to do that in Xero or QuickBooks up to the standard required.
- We will complete your sole trader accounts using the information from QuickBooks or Xero.
- We will prepare your self-assessment tax return for filing with HMRC and will chat to you about what your self-employed accounts and tax return show before you sign them.
- We will notify you of your tax and National Insurance payment obligations so that you know exactly what you have to pay and when.
Why work with us?
- We understand the challenges you’re facing and have the experience and knowledge to help you and your business get through them.
- We will inspire you to succeed – we can’t help it! – by making sure you have the knowledge to make the right decisions for your business.
- We answer any questions in an easy-to-understand way to help you make sense of the choices available to you (we don’t use accountancy jargon).
- Not registered with HMRC yet for your tax return? We can help you with your application. Setting Up as a Sole Trader
- It doesn’t have to be complicated to give your business the best chance of success and we’re with you on every step of that journey.
- Our specialist team are available via phone and email to give you the support that you need.
Sole Trader FAQ
When you choose us to manage your self-assessment tax return as a sole trader, we will complete your self-employed accounts and your self-assessment tax return. We will do everything we can to ensure you don’t pay more tax than you need to.
Some of the expenses you may not know you can claim on your return include:
- Mileage associated with work activities
- Charitable contributions
- Staff costs (some restrictions for you as the business owner)
- Office supplies
- Marketing costs
- Utility bills and other house bills
At Troy Accounting, we operate as extended members of your team. We will gather all the information required for your self-assessment tax return, fill in all the necessary information and even submit it on your behalf.
The self-employed accounts and self-assessment work are both intrinsically linked so we don’t recommend that you submit your own self-assessment. We will ensure that all the correct information is submitted to HMRC by the required deadlines and that you know the exact dates and amounts of tax that you will need to pay and by when.
Your self-assessment tax return must be submitted by the 31st of January every year. This is the deadline; however, we encourage all our clients to complete their self-employed accounts and submit their self-assessments as soon as possible after the 5th of April. We work with you to achieve this so that the majority of our sole trader clients have everything submitted before 31st July following the end of the tax year.
Want to speak to us about our accountancy services
Book a discovery call today!