Self-Assessment

Not sure where to start?

Not sure how to register, or when to file your tax returns as a Sole Trader? Don’t worry; we do.

HMRC’s Self Assessment is a way that self employed individuals are able to pay income tax. It is dedicated from wages, pensions, and/or savings. It must be reported in a tax return, to be made by specific deadlines to avoid fines or interest. Anyone who makes over £1000 in a year from self employed work must register, even if you won’t earn over the tax threshold.

We will help support you through the process by filing your taxes for you, as well as being on hand for any questions you might have about it all.

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FAQ’s

When is the best time to register as a Sole Trader?

In the UK, you should register as a Sole Trader as soon as you start trading or undertaking business activities. It is important to register within certain time frames to ensure compliance with legal requirements and to avoid any penalties.

What would happen if I didn’t register as a Sole Trader?

Failure to register as a Sole Trader in the UK can result in legal consequences, tax penalties, and loss of legal protections.

Who needs to complete a self-assessment tax return?

There are a whole range of reasons why you might need to register with HMRC. This may include being self-employed, having an untaxed income like tips or commission, or having an income for a trust. There are many circumstances that might require you to complete a self-assessment tax return. We are on hand to help, and to advise you as to whether it’s something that you’ll need to do.

How will I pay my taxes as a Sole Trader?

As a Sole Trader in the UK, you will pay your taxes through Self Assessment. You’ll need to register, keep accurate records, complete an annual tax return summarising your income and expenses, and pay the calculated income tax and National Insurance contributions by the deadline. We can help you with this!

What expenses can I claim on my self-assessment tax return?

You can claim various expenses, including office expenses, business travel expenses and equipment costs, among others. You must keep accurate records of expenses to do so, though. When you’re unsure about what you can and can’t claim, it’s best to check with an accountant or personal tax advisor.

What happens if I miss the self-assessment tax deadline?

There are financial penalties to missing the self-assessment deadline, depending on how late the return is and how much tax you know. It’s better to get it done as early as you can.

Self Employed

^{Starting from} £45.00 _{per month}

get started

Limited Company

(non-VAT registered)

^{Starting from} £179.00 _{per month}

get started

Bookkeeping
Payroll (1 director)
End of Year Accounts
Corporation Tax Filing
Companies House Filing
Tax Planning & Advice
Dividend Administration Optional Extras: CIS

Limited Company

(VAT registered)

^{Starting from} £279.00 _{per month}

get started

Bookkeeping
Payroll (1 director)
End of Year Accounts
Corporation Tax Filing
Companies House Filing
Tax Planning & Advice
Dividend Administration
VAT Returns – Quarterly or Monthly Optional Extras: CIS

Note: These packages represent the monthly fee for the average business and are all quoted on an individual basis. Depending on the size of your business and the volume of transactions/invoices, the package fee may change. All quotes will be provided and agreed before any work in commenced.

Client Testimonials

    
 
 
        
   Martin Hustaty 
 24. November, 2021.
 
 
  Very professional, punctual, and customer oriented. My previous accountant was not very flexible and was overcharging me. I've been working with London Accountants for one financial period and they provide me with everything I was missing. I appreciate their support in managing my company accounts, in particular, their professional knowledge, ability to cope with the a lot of work in a short time period as well as the fact they kept agreed fees despite slightly different expectations.
  
 
       
   Ian Robinson 
 20. July, 2021.
 
 
  Jez and the team have provided my company and residence freehold company with invaluable and professional advice. They are always available and the expertise and service have been superb. I will be continuing to use London Accountants for the foreseeable!
  
 
       
   Guy Winterflood 
 4. May, 2021.
 
 
  have been running my business for over 10 years and during that time period I have had some good and not so good accountants. In my opinion, a good accountant will not only take care of your tax and HRMC generally, but guide you in the right direction financially. I can say, hand on heart, Jez and London Accountants have exceeded my expectations on every level. The service and expertise has been second to none. If you are looking for an accountant, my advice would be to speak to these guys and see for yourself!
  
 
       
   Sue Vinson 
 12. April, 2021.
 
 
  Jez provides a reliable and professional service ensuring all my finances and statutory obligations are taken care of.
  
 
       
   Thurstan 
 5. March, 2021.
 
 
  Our experience with London Accountants and especially with our dedicated accountant has been second to none. They are very knowledgeable, quick to respond to any queries and are great value for money. Over the years, they have helped us be tax efficient. Not having to focus all our attention on the accounting side of things, means we can focus solely on our business goals.
  
 
       
   Sudeshna Choudhury 
 11. December, 2020.
 
 
  London Accountants are an excellent professional, reliable, experienced and friendly service.. Jez has supported and helped me beyond the call of duty to answer my queries and provide solutions to sort out my business and personal accounts, especially with tax returns and company accounts, so l highly recommend them for anyone looking for a personable and all round great accountancy service.
  
 
       
   Daniel S Vythelingum 
 9. December, 2020.
 
 
  We run a successful construction firm in Surrey & London and from our first enquiry with London Accountants, We have been very impressed with their attention to detail. They respond quickly and thoroughly to all of my questions and go above and beyond to make everything as simple and straightforward. It's a relief to know that such a crucial part of my business is in the hands of someone with such a detailed approach. London Accountants have provided timely tax-effective advice since 2014.
  
 
       
   Joel H 
 20. October, 2020.
 
 
  London Accountants are great. I've been doing my accounts with them for over 3 years and they've saved me loads of money and made accounting easier. During lockdown they were essential for helping me access the right financial support as a self-employed person.
  
 
       
   George Hewlett 
 19. October, 2020.
 
 
  Excellent service from Jez and the team. Professional and personable. Would highly recommend.
  
 
       
   Rachel Hewlett 
 14. October, 2020.
 
 
  “I have been a client of London Accountants since 2013 and have been very impressed with their knowledge and ability.  Jez Bhatti and his team are efficient, reliable and extremely helpful.  They always go the extra mile to help with any problems you may have, no matter how small.  Jez takes time to explain and advise on any point you may not understand.  He has recently completed my tax return so I don’t have to think about tax for a whole year!  I have no hesitation in recommending London Accountants for their exceptional service.”