Self Employed

Self Employed is the simplest way to start a business; it doesn’t involve any registration fees. The only drawback is that you are personally liable for any debts that your business runs up. These make risky options for businesses that require a lot of investment. If you are self-employed, you would need to complete a Self-Assessment tax return. We can complete and file your tax return online or fill in a paper form. You would probably need to pay any Income Tax you owe for a tax year in two instalments i.e. January and July, plus a final  ‘balancing payment’.

Self Employed


Setting up as a self employed

Every year at the same as your statutory accounts are prepared, we will prepare a report for you providing of your business insights that shows the areas where you can minimise the expenses, increase your earning and future tax planning.

We don’t just sit back and prepare your accounts only at year-end, we work with you throughout the year to provide you help with accounting matters, employee costs and payroll issues, tax planning for small businesses, purchasing, inventory levels, VAT and any other matter where you require professional advice.

Services we can provide you:

  • Register you as a sole trader/ Self Employed where needed
  • Prepare & discuss accounts with you
  • File your Self-Assessment tax return – once approved
  • Guide you on how tax system works in UK – Tax, N.I. rates etc
  • Guide you on how to keep good records
  • Guide you on whether your business needs to be registered for VAT, and explain to you about available VAT schemes
  • Provide you list of possible allowable expenses
  • Advise you about the tax liability & dates
  • Act as an agent on your behalf and deal with HM Revenue Customs
  • Email and telephone support throughout the year
  • Bookkeeping software
  • Tax planning

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ICAEW Chartered Accountant