sole trader Services

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Sole trading is the easiest, cheapest and least formal way in which to set up in business as well as manage that business. As a sole trader, you run a business as an individual, make all decisions affecting the business and own all the assets of the business personally, meaning a sole trader keeps all the profits of the business after the relevant tax has been paid. Operating as a sole trader means having sole responsibility for the business. It does not, however, mean that the sole trader must work alone, many choose to work alone but sole traders can, and often do, take on staff.

As a sole trader, you are personally liable without limit for any debts and contracts the business has, and from a legal point of view, there is no difference between the business and the individual. This means that as a sole trader your personal assets are at risk if the business fails to pay its creditors.

Don’t risk losing your personal assets! Take advantage of our bookkeeping services so we can share our knowledge and experience of tackling the financial challenges faced by sole traders.

Setting up business as a sole trader for the first time?  Struggling to get your head around sole trader taxation? You will not be alone.  Even years down the line, many sole traders can find it difficult to get all their figures together to file returns for the HMRC.  However, it is crucial that you make sure you file sole trader tax accurately and on time. Otherwise, you may face fines – and HMRC may take further action against you.

Why not let a team of local, leading sole trader bookkeeping experts help out?  If you are in need of a cheap sole trader bookkeeper, our competitive packages and pricing scale may surprise you.  With our services, you get guaranteed access to a qualified, experienced bookkeeper who knows exactly how to crunch your numbers the right way.

To begin with, it may be tempting to try and manage your sole trader tax return online on your own.  In fact, it may seem simple. You may even have a good head for figures, meaning that your tax is always going to be a breeze.

But what if you’re growing your business?  You may not have time to manage your financial affairs in as much depth as you’d like.  What’s more, sole trader taxation is only likely to get more complicated the more money you make.  Therefore, it makes perfect sense to look for sole trader bookkeeping specialists who can take care of all of the numbers for you.

Through our online system and cloud service, you’ll be able to upload your records and communicate with our team to make sure your figures are handled in the way you need them to be.  What’s more, our professional, trained and accredited team will make sure your returns are always legally sound and above board. The last thing you will need is for HMRC to spring a surprise visit on you when your bookkeeping is out of sync!  Don’t ever let this happen to you!

Running your own business carries plenty of risk.  As a sole trader, you are always going to be liable, personally, for the running of your firm.  This means that you will also be responsible for paying taxes, and for making sure that your figures are always up to date and secure.

If you are running your business from home or off your own back, HMRC will make sure to list you as such on their systems.  However, failure to meet with their payment guidelines, or to manage tax effectively, could mean that your business or even personal assets are seized.  Can you really afford to lose your home, car or business premises? Probably not.

Don’t ever take that risk.  Talk to our specialists for sole trader who will make sure you comply with all HMRC regulations to the standards they expect of you.