Sole Trader

Professional Advice:

Professional advice on tax for self employed workers, plus a whole range of other services As a client of TimeTax you will receive expert help in completing your self employed tax return.

  • In particular, we will ensure:
  • All your tax affairs are put in order
  • All your questions are answered clearly
  • All the tax relief and tax deductions for self employed people that you are entitled to are properly claimed.

We will make are your tax returns are completed accurately and filed within inland Revenue deadlines. At the same time we'll steer you safely past all the financial penalties that could prove costly for your business and even put your continued self employment at risk.

Personalised Support:

But ther's a lot more to our services than just advising on tax for self employed people

When you enter delf employment, there are so many different tasks to tackle it can sometimes seem overwhelming. We can help by providing personalized support for you throughtout the year, lifting much of the administrative burden from your shoulders.

Here are just a few of the things we can do to make your life easier:

  • Maintain your accounting records or advise on how to keep your records
  • Prepare your returns if you are VAT registered
  • Prepare your weekly or monthly payroll for any staff you employ
  • Advise on allowable business expenses
  • Prepare your business accounts and tax computation
  • Complete your self assessment tax return for you
  • Advise you on current and future tax liability.

Best Financing Deals:

But our services go beyond that. We also have considerable experience of advising our self employed clients on a range of other issues.

This includes:

  • Obtaining the best financing deals
  • Choosing and installing the right accounting system
  • Streamlining your cashflow management and debt collection.

And we can provide a full healthcheck on your business, showing you how to structure your activities for maximum growth and profitability.

Whether you seek guidance on tax or are looking for ways to develop and grow your business, we offer a comprehensive package of advice and support.

Preparation of Sole Trader Annual Accounts:

Determined and rising businesses will not always call for a statutory audit, for instance if you are a sole trader or a smaller commercial business. However, to enhance integrity a specialized statement displaying accounts provide a factual and precise signal of business activity and performance.

Timetax will prepare your accounts accurately from your accounting records by providing an Accountants Report.

By taking your bookkeeping records or trial balances and develop these into the accounts for the period. This will present the users of your accounts with the guarantee that the accounts display accurate evidence of the fundamental activities of your business and that your business has followed the legal obligations in regards to the preparation of accounts accurately.

We then ensure you have an understanding of what the figures signify and advise you on the next steps that you could take to enhance your success and guarantee your tax liabilities are precise.

Bye Law:

  • You would like a certified report that your accounts are accurate.
  • Your bank, invertors or stakeholders require an Accountant's report.
  • Accounts are required in order to prepare your self assessment tax return due to HM Revenue & Customs.