Operating as a sole trader is a good way to get your foot on the business ladder. In order to start working for yourself, you will need to register as self-employed with HMRC. You should register the moment you start out to avoid incurring any financial penalties and to ensure you pay the right amount of National Insurance. Unlike running a limited company, sole traders don’t need to register with Companies House and deal with the administration that comes with it.

 

How do we make sure you’re well looked after as a sole trader?

 

We have a full range of services in place to provide peace of mind, from bookkeeping and profit & loss accounts, to cloud accounting and Self Assessment tax returns. What’s more, we’re fully-equipped to advise you on the benefits and pitfalls of running your own company and can provide ongoing support if you need it.

How it works

When you sign up to our services, we’ll submit your annual Self Assessment form to HMRC, and keep accurate up-to-date records of your business transactions and profit & loss accounts (uploaded by you via our cloud accounting portal). You will be liable to pay income tax on your trading profit, and Class 2 & Class 4 NI.

More information

If you’d like any more information or guidance on how we provide accountancy support for sole traders, our team is happy to help. Get in touch on 020 7078 0211, Monday to Friday from 9am to 6pm or drop us an email at admin@kbaccountancygroup.com and we’ll get right back to you.

Sole Traders Accounts from £50 + VAT per month
You’ll get free 24/7 access to FreeAgent cloud accounting software, which allows you to take control of your finances on the go. With automatic bank feed, simple invoicing, and mobile upload of receipts, managing your accounts and bookkeeping has never been easier.

If you require payroll services then we can provide you with a quote for monthly payslips and RTI returns for an additional fee per month, depending on your number of employees. Our service includes:

• Dedicated accountant.

• Quarterly VAT return.

• Income and expenses statement.

• Real-time accounting information including profit & loss accounts via our cloud portal.

• Self Assessment tax return.

Yes please!