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Phone: +44 (0) 207 093 2544
Email: info@artifinaccountants.co.uk

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Sole Trader Accounts

Accurate Sole Trader Accounts From Day One

Running your business is challenging enough without worrying about your accounts.

As a sole trader, you’re responsible for keeping accurate financial records, reporting your income, and paying the right amount of tax. When paperwork builds up, or expenses aren’t properly tracked, it becomes much easier to miss deadlines or pay more tax than necessary.

Our sole trader accounting service helps you stay organised throughout the year, giving you a clear picture of your finances while ensuring your records are ready when it’s time to file your tax return.

Good records make running your business much easier.

How much will your Self Assessment cost?

Our low monthly fees allow you to split the cost over a whole year

Sole Traders

From £24.50 per month

Your Self Assessment tax return is included in your fee as part of the service.

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Limited Companies

From £39.50 per month

Add Self Assessment for an extra £10.00 per month for the first 2 x directors.

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Partnerships

From £24.50 per month

Add Self Assessment for an extra £10.00 per month, per partner.

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Claim Every Allowable Business Expense

Every legitimate expense could reduce your tax bill.

Many sole traders miss valuable business expenses simply because they aren’t sure what they can claim. Keeping accurate records throughout the year helps ensure your expenses are properly recorded and supported if HMRC ever asks for evidence.

Allowable business expenses may include:

Office and home working costs
Business travel and mileage
Equipment and tools
Professional subscriptions
Phone and internet costs

Claim what you’re entitled to, not just what you remember.

Need Your Sole Trader Accounts Sorted?

 Let our team handle the numbers.

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Call us: +44 (0) 207 183 6286

Stay Ready For Self Assessment

Tax returns become much easier when your records stay organised.

Preparing your accounts throughout the year makes your Self Assessment far less stressful. Instead of searching for invoices and receipts at the last minute, you’ll already have accurate figures ready to report to HMRC

Keeping your accounts up to date helps you:

Prepare for Self Assessment
Monitor business income
Keep digital financial records
Track profit throughout the year
Stay ready for HMRC requests

Preparation throughout the year saves time at tax return season.

Understand How Your Business Is Performing

Your accounts should help you make better decisions, not just meet HMRC requirements.

Accurate accounts provide valuable information about how your business is performing. By reviewing your income, costs, and profit regularly, you can identify trends, control spending, and make informed decisions about pricing, investment, and future growth

Your accounts can help you:

Measure business profitability
Review cash flow
Plan future growth
Monitor financial performance
Support better business decisions

Better information leads to better business decisions.

Frequently Asked Question

Do sole traders need to prepare annual accounts?
Yes. While sole traders don't file accounts with Companies House, they should prepare accurate annual accounts to calculate their business profits, complete their Self Assessment tax return, and keep proper financial records for HMRC.
Do I need an accountant if I'm a sole trader?
It's not a legal requirement, but many sole traders choose an accountant to prepare their accounts, monitor their finances, meet HMRC deadlines, and ensure they claim all allowable tax reliefs and deductions.
How much can a sole trader earn before paying tax?
A sole trader may need to pay income tax if their taxable income exceeds the personal allowance. The amount you pay depends on your total income, allowable deductions, and the income tax rates that apply to your circumstances.
Do sole traders need a separate business bank account?
No, it's not a legal requirement for sole traders. However, using a separate business account makes it much easier to track income, manage expenses, prepare accounts, and provide accurate records if HMRC requests them.
What records should a sole trader keep?
Sole traders should keep invoices, receipts, bank statements, expense records, and details of all business income. Maintaining accurate records throughout the year makes preparing your accounts quicker and helps you stay compliant with HMRC.
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