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Accountants for Sole Traders

Individual accounting which works for you.
Accountants for Sole Traders
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    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:

    • Your invoices.
    • Your expenses.
    • Your profit.

    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:

    • Travel costs such as parking, public transport fares and fuel.
    • Accountancy fees.
    • Office equipment such as stationary and business phone costs.
    • Protective or branded clothing.
    • Staff and financial costs.
    • Advertising costs.
    • Business rates and utilities.

    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 £6000 + VAT per year – we’ll keep on top of your tax return for you.

    Request a quote or ask for advice

    We work with a wide range of businesses on a national level and can give you the friendly and expert accounting advice you need.

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    We work with a wide range of businesses on a national level and can give you the friendly and expert accounting advice you need.

    Talk to Smooth Accounting about your sole trader business accounting

    Smooth Accounting is an award winning Chartered Accounting Firm. We have a wealth of experience in numerous industries. As a result, we are in a position to offer a broad range of accounting services to help your business achieve its full potential.

    Not ready to switch yet? Explore our services here.

    Switch Your Accountants Today

    Why choose us as your sole trader accountant?

    Jeri Williams Sole Trader Accountant

    Here's some other accountancy services we offer...

    Are you ready to get started?

    You didn’t get in to business to fiddle around with payroll and HMRC forms. We offer FREE discovery calls to individuals, sole traders, limited companies and professional businesses.

    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.