Online Accountants for Sole Traders

The UK technology sector has been known for many years as the blue ribbon in development and innovation and if you own an innovative tech business then you need accounting backup to suit.

We have based our whole approach on the adoption of cutting edge technology to help us deliver world-class accounting services for our clients and we understand the challenges of tech.

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Startups

Small Businesses

Technology

Sole Traders

Self employed

Limited Companies

Partnership

Freelancers

Contractors

Ecommerce

Whatever you do as a sole trader you need to make sure that you are set up correctly and that you don’t pay too much tax.

We’ve worked with a huge number of sole traders who want life to be as simple as possible and that's where we come in.

We’ll let you know what you have to do and when you have to do it and when it comes to self-assessment time we’ll be there, advising you on the most tax-efficient method of organising your business.

SOLE TRADER ACCOUNTING

A full set of Sole Trader accounts

Full set of statutory accounts & Corporation Tax return (CT600)

Preparation and submission of your self-assessment tax return

Support you whenever you need - online , 1 -2- 1 or schedule a call

Speak to HMRC on your behalf

and more

From only £19.99 per month

NO NASTY HIDDEN FEES OR EXTRAS!

No hidden fees, no time-based billing, no extra charges for picking up the telephone, just one of our qualified professionals in your corner, part of your team, vested in your success.

Accounting for Sole Traders

Included in the Sole Trader Accounting Package

Accounts Preparation

Self Assessment Filing

A dedicated accountant

1-1 tax advice & your tax return filed

Integrated HMRC submissions

Tax Optimisation

Full access to our professional accounting software

Preparation and submission of the VAT return (if required)

Manage the company payroll (if applicable)

Unlimited Support , Online. By phone. In person

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From Just

£99.50

Per / month

Soletraders FAQ'S

What is a Sole Trader?

Tech startups can benefit heavily from the advice and guidance of a chartered accountant. Sound management of your finances is crucial, especially early on in your business’s life. Accounting for tech startups isn’t overkill — it’s simple, sensible practice.

Setting up as a Sole Trader

What is a UTR and how to get one ?

When to Register as Self-Employed in the UK

What is Trading Income Allowance

what is tax year for self employed and deadline for submission

What expenses can I claim being a soletrader ?

Should I register for VAT as a sole trader?

Top ten tax tips for a sole trader?

Ask another question

DID YOU KNOW?

In January 2023 there were 4.3 million self-employed individuals in the UK. This is down from 5 million at the start of 2020 believed to be a result of COVID-19.

What are the advantages vs disadvantages of being a sole trader?

Advantages

disadvantages

Get started immediately

There is no need to register your business with Companies House if you decide to become a sole trader.As a result, you can start working as soon as you are ready.

Personal Responsibility for Business

Unlike the owner of a limited liability company, sole traders bear full responsibility for all decisions and consequences. All debts related to the business's financial difficulties must be paid out of personal assets if there is not enough money in the business. This applies to all property of a sole proprietor, including their house, which can lead to personal bankruptcy.

Fast and Simple Registration

The only thing sole traders are legally required to do after having started working this way, is register as self-employed for tax purposes. This is effectively you telling HMRC to expect your Income Tax via the Self-Assessment Tax Return

Barriers to finance

sole traders often find it difficult to raise finance to fund their business. They may struggle with expansion in the future.

Full control of the business

As the sole owner of your business, you have full control over it. Without any shareholders or directors in the equation, you’re free to make your own decisions and run your business exactly how you want.

Barriers to finance

sole traders often find it difficult to raise finance to fund their business. They may struggle with expansion in the future.

Complete Privacy

All financial information related to sole traders remains private, while the annual report of the limited liability company may be made available on the Companies House website..

Less Tax efficient Structure

Sole traders are required to pay Income Tax on the full extent of their profits each year. This is in contrast to limited company profits, which are liable to lower rates of Corporation Tax.

Retain all Profits

Sole traders retain all the profits of their business. In addition to profit retention, a sole trader may also retain personal ownership of business assets.

Heavy workload

When you run a sole trader business, the amount of work you have is dependent on your availability and hours.if you're sick and unable to work, there's no sick pay to cover you.

Why go accountax for your Accountancy services

Dedicated 2 person Team

They will be your point of contact if you require any help along the way.

Tax Optimisation

Regular tax efficiency reviews to reduce your tax bill

Regular reminders

We send regular reminders prior to submission. We'd hate for you to be late!

Save Time

We want to give you back your time. No need to waste hours going through receipts and statements.

Free Accounting Software

Our easy-to-use free accounting software makes it easy to send out invoices and keep track of expenses.

Helping you save time and money whether you are a freelancer, sole trader or limited company.

And much more

Free Accounting Software

Our easy-to-use free accounting software makes it easy to send out invoices and keep track of expenses.

Helping you save time and money whether you are a freelancer, sole trader or limited company.

And much more

Our Services?

Accounts

Need help with your year-end accounts? we’ll ensure you save time, submitting your year-end accounts to HMRC and Companies House on your behalf.

Payroll

A complete managed payroll service for employers and directors

Self Assessment

Self Assessment doesn’t need to be painful.

VAT Returns

Calculating and reporting VAT is a complex, time-consuming process.

Bookkeeping

Bookkeeping is tedious for any business owner, and falling behind is easy to do.

Management Accounts

Bookkeeping is tedious for any business owner, and falling behind is easy to do.

accountax 360

Looking for information on our other accountancy services?

IR35 Consultations

Capital Gains & Allowence

Investigation Consultancy

Which Services do I need?

There are five core compliance requirements you need to be aware of:

Accounting - covers your annual filings

Bookkeeping - record keeping and classifying transactions into their correct accounting categories

VAT - you need to know when to register and file returns once registered

Payroll and pensions - you have to report to HMRC if you pay someone an employee a salary

Self Assessment - you personally may have to file an annual return, most commonly if you receive income that is not taxed at source, e.g. rental income or dividends

Three easy steps to Switch to accoutax family

Changing accountants isn’t something that you do regularly so we’ll walk you through the process and make sure that you are completely comfortable with your new firm.

This includes completing things like a letter to your old accountant and a form allowing us to act on your behalf with HMRC. (don’t worry, we’ll guide you through)

Let’s talk

We need to know about your business and what you are hoping to achieve from your accounting

Get going

We’ll integrate with any systems you already have and refine our processes so that you get the service you deserve