Choosing a sole trader structure is the simplest way to start up in business. You can register as self-employed with HMRC online or by a phone call in around 15 minutes.
You will need to submit a self-assessment tax return to HMRC every year. You do not need to submit accounts to HMRC. Many sole traders think that they can’t afford to have an accountant, and instead try to learn the tax rules and submit their own tax returns.
However there are clear advantages in working with an accountant and having professionally certified accounts prepared by them. Finding the right accountant will save you money and time, and help you to grow your business.
- We all have the same amount of time as Leonardo da Vinci or Steve Jobs did. So, will you spend your ‘business hours’ trying to understand complex tax rules, or will you use this time on business development, finding new customers and delivering your product or service?
- An accountant will prepare your tax return and submit it before the deadline, leaving you with more time to spend on your business (or perhaps just enjoying your leisure time)
- A professionally qualified accountant will ensure that you pay the lowest legal amount of tax, and advise you on expenses that you can (and can not) claim through your business
- An accountant who provides unlimited email support will be able to advise you on the tax impact of significant business decisions BEFORE you commit to spending money, such as running a car through the business, buying plant & machinery or perhaps renting business premises.
Grow Your Business
- The best business people realise that they can’t do it all on their own. Even as a one woman (or man) band, you will need help and advice from professionals who know the game. Mick and Keef wouldn’t be where they are today without Charlie on drums in the background
- An accountant is an experienced business person who can be a valuable sounding board for your ideas. They can be objective about your business
- And by working with small business owners like you, they can provide advice on what makes a business ‘tick’ and help you improve your sales and profits
The Cloud Accountants can provide various service packages starting with our Bronze level at just £99 per month, up to our Gold package at £159 per month. To find out more, visit our services page or make an enquiry todayGet in Touch for More Information