Sole Trader Accounts

The simplest way in which you can trade is by becoming a Sole Trader.

We will register you as self-employed with Her Majesty’s Revenue and Customs (HMRC) and complete the CWF1 on your behalf. This enables HMRC to send your quarterly bills for what is known as ‘Class 2’

National Insurance, which will ensure that your state pension is not adversely affected in any way in the future.

As a sole trader you will need to do a number of things:

Keep all of your invoices to clients and any receipts for business expenses for six years.

Keep a full record of the money you have earned each year, and all business expenses. We will support you to do this from day one anyway as you will need these figures for your end of year accounts.

We will complete and file Personal Tax Return which declares your profit for the tax year which ends at the 5th April.

We will also guide you through paying your own Self-Assessment Tax and Class 4 National Insurance contributions.

As bookkeeping is part of our services to you, the time and cost involved in preparing your year-end accounts is considerably reduced. If you require an audit, we have access to specialists who can provide the service.

To find out more about how we can help you, please contact us.