Sole Trader

BUSINESS ACCOUNTS

• Setting up a bookkeeping system, either online or desktop, tailored to your needs. For benefits of online bookkeeping click here
• Preparation of Profit and Loss account and Balance Sheet

TAX

• Tax planning
• Calculation of Income Tax, National Insurance Contributions (NIC) and any Capital Gains Tax liabilities
• Preparation and filing of self-assessment tax returns
• Advice on interest, penalty and surcharge implications if tax or NIC is paid late
• Check if you are overpaying your taxes or NICs and initiate repayments if necessary

PAYROLL

• If you are planning to employ staff we will set up your PAYE and run payroll for you

VAT

• Register for VAT (if your turnover is or is likely to exceed £68000 or when you voluntarily wish to do so)
• Calculation of VAT liability and filing of VAT returns