Accountants for Sole Traders & Self Employed

Individual accounting which works for you.
accountant for sole trader and self employed

What is a sole trader/self-employed?

You’re self-employed if you run your own business, hire people, provide the equipment you need to work, charge for your services and sell goods or services for profit. A sole trader or self-employed person is not a limited company. If you’re unsure or need further information, please consult the HMRC website.

What records do you need to keep?

When you are self-employed, you are responsible for notifying HMRC of your earnings and paying all appropriate taxes. In order to do this correctly, you must keep records of:
You must fill out regular tax returns – or have your accountant file it for you.

What can you claim as expenses?

There are many costs associated with running your own business. If you have purchased certain items or services in conjunction with the day to day running of your business, you will be able to offset these against your turnover – meaning you do not have to pay tax on that amount. (i.e If you have spent £10,000 on expenses, and your turnover is £50,000 – you will only pay tax on £40,000).
Expenses include:

Plus other specific expenditures.

Why choose Smooth Accounting for your sole trader or self employed accounting?

At Smooth Accounting, we can take away the headache of being self-employed. We make your tax returns, simple. We keep on top of your accounts and give you complete peace of mind.

Don’t panic about expenses, tax returns and keeping receipts: From £500 + VAT per year – we’ll keep on top of your tax return for you.

Other accounting services we offer:

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Smooth Accounting

Smooth Accounting is very proud to be supporting the amazing work of JUST ONE Tree, a non-profit reforestation initiative. For every tax return we file, we will be planting one tree.

Trees really are the superheroes of our planet, cleaning the air we breathe, filtering the water we drink, giving life to the world’s wildlife and providing jobs to over 1.6 billion people.

Yet deforestation is still a major threat to global warming. JUST ONE Tree plants a tree every 46 seconds in severely affected areas, with the aim to remove CO2 from the atmosphere and reverse biodiversity loss.

We have just one planet. Together let’s restore it.

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