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Self Employed Finances

If you're set up as a Limited Company, have a look at our small business finance pages, accounts can be quote complicated for Companies. If you're a sole trader, things a bit simpler...

The main financial issue you'll need to worry about is the end of year tax return. Every year by the 31st January, sole traders must submit a tax return. This details all of your income and expenses and calculates the amount of tax you owe. For more information on tax returns, have a look here.

Good bookkeeping throughout your year's trading is crucial in order to accurately fill out the tax return. You need to note every time you invoice and receive a payment as well as all the goods and services you spend money on for your business. Business costs are known as expenses as you can claim the VAT back at the end of the year. Have a look here for more information on expenses. If you'd like to download bookkeeping software, have a look at our FREE software.

Speaking of VAT, you'll need to decide whether to want to register for VAT or not. You have to register if your income is over £68,000 however there are a number of reasons to register if you come under this threshold.

Other financial issues including insurance, business banking and payroll are covered in this section so have a look around!

Tax is complicated and we're sure you'll have a lot of questions so if you want to speak with us, Ask us a question, call us on 0500 234111 / 01442 275767.

 

Easy Accountancy

Easy Accountancy is the UK’s only national specialist accountancy firm for freelancers, sole traders and small businesses

If you’ve just started out as a freelancer or run a small business, you’ll definitely need a small accountant and there are plenty of options out there! However, most accountants will charge you every time you get in touch with them; for every phone call, email or meeting.

We don’t want our clients to be scared to contact us and potentially lose out on valuable tax saving advice. It's even more important when you first start out as you really need to set your business up in the best way possible. As a start up you’ll probably have loads of questions and will really appreciate the fact you can call your accountant as many times as you like without the fear of racking up large bills.

Our low cost, all-inclusive fixed-fee accountancy service includes unlimited access to your own accountant throughout the year, so you never need to worry about picking up the phone and then receiving a bill afterwards for the privilege, and covers all your business and personal tax affairs needs. All clients additionally receive: 

  • Help to run your business in the most tax efficient way possible
  • Help so you can understand the taxes you need to pay
  • Advice on the best ways to manage your business
  • Updates and reminders so you'll never miss a deadline
  • Help to ensure you maximise your tax allowances
  • Provide proactive tax advice throughout the year

We’ve saved our clients up to half on their accountancy bills – if you’d like a quote, click on the quote me button to the right of this page. Alternatively, call us on 0500 234111 / 01442 275767 or email aaron.oneill@easyaccountancy.co.uk

We also have a money-back service guarantee - all of your telephone calls and emails will be answered on the same day, or we will refund your monthly fee (another first within the accountancy world).

To appoint us as your accountants, please fill in our Client Agreement Form online.

If you are a contractor working through a limited company then visit SJD Accountancy (our sister company) who specialise in providing tax advice and accountancy services for Limited Company contractors. You can also keep up to date by following the SJD Accountancy Twitter

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