Sole Trader Accounting
My Accounts Digital can put together a bespoke accounting package to suit you. Our service includes all monthly bookkeeping and year-end accounts. Simply send in your paperwork monthly (or quarterly if you prefer). You will have your own accountant who can advise you regarding gathering the relevant paperwork, documents and receipts.
Making Tax Digital is a government initiative to make it easier for both businesses and individuals to get their taxes right. Making Tax Digital is making changes to the way the tax system works. It is transforming tax administration so that it is effective and efficient.
VAT registered businesses are already required to file their returns using MTD compliant software. This includes specific bookkeeping software/ online accounting software. The new rules will be extended to VAT-registered businesses with a taxable turnover below £85,000 starting on April 2022.
If you are self-employed with profits over £10,000, you will need to follow the new rules from 6th April 2023. We can help your business transform into this new digital way of record-keeping. Ensuring you are ready for when the new rules come into effect.
We can complete your self-assessment tax returns, calculate your tax liability and file your return online. All whilst communicating with you regarding your tax bill, what needs to be paid and when any taxes are due. We will analyse your self-assessment tax return to see if any tax savings can be made.
We can also provide various regular reports as part of your package, which can be tailored to your needs. This can help with the day to day running of your business. This includes managing expenditure, keeping an eye on your cash flow and planning for future tax liabilities.
We can help your sole trader business, small businesses, limited companies and more with all of your accounting requirements.
Our monthly service starts from just £20 per month (or an annual fee if you would prefer). Our service is affordable, without compromising on the quality of service. Our accountants will make sure you know exactly where you stand when it comes to your finances. Start your journey to becoming financially confident by getting in touch with our team today.
