As a sole trader, you must submit a Self Assessment tax return to HMRC every year before the 31 January deadline. This will be based on the profits of your business at year end, plus any other income you earn elsewhere.
If your turnover is above the VAT threshold, then you will be required to submit a VAT Return to HMRC every quarter. And if you employ staff, then you will need to run a reliable payroll every month, as well as operate an auto enrolment pension scheme.
We can help with all of this. We ensure that your tax return is completed well before the deadline so that no penalties are incurred, and check that all your forms of income are included. We produce and submit your VAT Returns. We run staff payroll reliably and in plenty of time for payday. We help you do things the right way.
We can also advise you on whether it would be more beneficial in your circumstances to remain as a sole trader or switch to a Limited Company.
Our fees are competitive and include all meetings, phone calls and emails, so when you talk to us, you will never feel like you’re on the clock.
We can provide the following bookkeeping services:
- Inputting customer and supplier invoices, cheque receipts and payments.
- Bank reconciliations.
- Invoice production.
- Making payments to suppliers.
- Producing aged debtors and creditors lists.
- Credit control services, using pre-agreed strategies.
- Monthly management reporting, including profit and loss and balance sheet.
- Budgets and monthly budget comparisons.
- Year-end accounts.
- VAT return production and submission.
Our monthly bookkeeping fees are based on the volume of work but are always competitive, and they include all meetings, phone calls and emails so you will never feel like you’re on the clock.