Sole Traders & Self-Employed

59% of the UK private sector business population comprised of sole proprietorships (sole traders) at the start of 2019*, demonstrating this is a very important group of businesses for the UK economy.

 

Being self-employed as a sole trader you may keep your own income and expenditure records, and undertake your own tax returns. However, a growing number of individuals are finding that this burden of record keeping is affecting the time they have available to actually undertake the day to day work of their business, or the family/personal time that they have available outside of the working week. Some are also finding that the quality of record keeping is being affected by how little time they have available to devote to it.

Self Employed Sole Trader Papers

Fortunately, we are able to help, with our bookkeeping and accountancy services for your sole trader business. We can reduce the burden of the record keeping, produce professional accounts so you can accurately see how your business is performing, and complete personal tax returns - so you don’t have to worry about devoting endless time and effort to the financial aspects of your business.

 

Our typical services for self-employed sole traders include:

  • Bookkeeping

  • Personal Tax Returns

  • VAT Returns

  • Payroll

  • Software Advice

  • End of Year Accounts (if required)

 

Contact us today to discuss how we can help.

Over time as your self-employed business grows, you may also find that you need additional services such as payroll, or you may decide that a limited company business structure may be required. Fortunately, as Chartered Certified Accountants, we can offer you a smooth and supported transition from a sole trader to a limited company with services such as company formations, end of year statutory accounts, and corporation tax returns.

 

For more information and an informal chat, contact us today at our Louth office.

 

 

*Source: https://www.gov.uk/government/statistics/business-population-estimates-2019/business-population-estimates-for-the-uk-and-regions-2019-statistical-release-html#:~:text=common%20legal%20form.-,At%20the%20start%20of%202019%3A,proprietorships%20and%20108%2C000%20ordinary%20partnerships