- Self-Employment Registration
- Annual Tax Return
- Xero is included in the Monthly Fee
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.
Self Employed
.
Starting from
£45.00per month
- Self-Employment
- Annual Tax Return filed for you, by us
- Tax Planning & Advice
Limited Company
(non-VAT registered)
Starting from
£179.00per month
- 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
£279.00per month
- 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.
FAQ
When is the best time to register as a Sole Trader?
When is the best time to register as a Sole Trader?
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.