Sole trader

You might be in the early days of building your digital marketing agency, or maybe you're an online yoga teacher. If you operate as a sole trader this is the package for you.

How it works

You'll have a dedicated email address to send us all of your receipts and expenses, and use Xero for your day-to-day bookkeeping (recording your costs, issuing invoices to clients, and so on). If you sell through places such as Shopify, then we'll use Parex to easily bring in the sales information to Xero so everything's in one place.

What you get

Rather than a one-size-fits-all approach, I think you should only pay for what you need, and that your accountancy services should be able to grow as you do. That's why I operate a more pick'n'mix approach so that you can pick and choose the bits you need, adding or removing things as you go. Not everyone wants or needs a full accounts team from the beginning. That's why there's a range of services to choose from, including:

• Annual income and expenditure statement
• Self assessment tax return
• Bookkeeping support - making sure that your numbers are always up to date and able to help you make decisions
• Monthly or quarterly management reports
• Monthly payroll
• VAT returns
• Making payments to your suppliers and staff
• Sales invoicing and credit control
• Video calls
• Xero subscription
• Email support

But I can do my own self assessment

You certainly can, after all the clue is in the name! Whilst you're likely to do a good enough job, how much extra tax are you paying as a result of just not knowing everthing that's possible? On average I reduce people's tax bill by £300, compared to them doing it themselves, and the most I've saved someone is £14,000! This isn't by doing anything dodgy, that's not how I roll, just simply knowing what can be deducted and making sure that they're using the right approach for them.

Why do I need accounts, aren't they just for limited companies?

As a sole trader you are not required to prepare a full set of statutory accounts for submission to HMRC, however you are required to submit certain information as part of your self assessment tax return (the level of detail required depends on your turnover). We'll prepare an income and expenditure statement which will not only help form the basis of your self assessment tax return, but is also important for identifying how money came into and out of your business. Many people who do their own tax return don't do this and by just adding up their income and expenses are only getting part of the story and could well be paying the incorrect amount of tax. Without accounts you're also missing out on a fantastic decision making tool. Being able to see exactly how income and has come in and where it was spent is hugely useful when you're looking at growing your business. It's also a pretty good motivator when you can see all of your hard work paying off!

How to sign up

If this all sounds interesting, book a time below and we'll have a chat to discuss your needs.