Sole traders are those individuals who operate small businesses. Usually self-employed individuals fall in this category. Following are important issues which need to be taken into account when operating as a sole trader:
Bookkeeping represents the proper recording of sales, purchases, income, receipts and payments. It is mandatory by law for businesses to maintain their accounts and tax records. Ideally bookkeeping should be done on daily basis. At Artifin Accountants we can provide you tailored packages, accounting systems and all the help you need for bookkeeping of your business.
Give advice on raising finance
Self-Assessment needs to be submitted by individuals who are self-employed or sole traders. It is mandatory for all those who fall in this category whether or not they have traded. If self-assessments are not filed within the due dates, this can lead to severe penalties and extra cost.
At Artifin Accountants we take care of all matters related to Self Assessments for our clients and can provide tailored packages and advice.