Simple, fixed-fee accounting for sole traders.

As a sole trader you must: register as self-employed with HMRC, keep records of income and expenses, file a self assessment tax return (SA100) annually by 31 January, pay income tax and Class 4 National Insurance on profits, and register for VAT if turnover exceeds £90,000. If you employ staff, you'll also need to run payroll. We cover all of this.

The personal allowance is £12,570 (2024/25). Profits above this are taxed at 20% (basic rate), 40% (higher rate above £50,270), and 45% (additional rate above £125,140). You also pay Class 4 NI on profits above the lower profits limit. We calculate your liability accurately and ensure you're claiming all allowable expenses.

Allowable expenses reduce your taxable profit. Common claims include: office costs, travel (mileage at HMRC rates), equipment, marketing, professional subscriptions, accountancy fees, and a portion of home-working costs. We review your expenses as part of preparing your self assessment to make sure nothing is missed.

It depends on your profit level and circumstances. A limited company is generally more tax-efficient above roughly £30,000–£40,000 in profits, and offers personal liability protection. However, it involves more admin and obligations. We can run through the numbers on a discovery call and give you a straight answer.