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Self-employed face high levels of debt

Thousands of self-employed people and small business owners are facing high levels of debt, according to research by the Money Advice Trust.

Of around 36,000 people who contacted the trust in 2017, almost half (49%) had debts of £10,000 or more, with nearly a quarter (23%) owing more than £30,000.

The main problems causing financial difficulty included irregular income, late payments and a lack of confidence with certain business management skills.

While the majority of business owners felt confident completing a budget (80%), they were less confident about constructing a business plan (59%) and completing tax and VAT returns (47%).

Joanna Elson, chief executive of the Money Advice Trust, said:

"Self-employment and small business ownership continues to grow and play a crucial role in driving forward our economy.

"While many of these businesses are able to flourish, a growing number are struggling with high levels of debt, putting both their business and personal finances at risk.

"It is crucial that any self-employed person or small business owner who is struggling to cope seeks advice as soon as possible."

We can help plan your business finances.

Why Clients Choose Easy Accountancy

Easy Accountancy offers a low cost, fixed fee accountancy package with all clients receiving their own dedicated, friendly, approachable accountant.

All of our accountants specialise in providing accountancy services to the self-employed, freelancers, sole traders, small to medium sized limited companies and private individuals. All accountants are employees of Easy Accountancy and we never outsource or offshore work.

Our low cost, all-inclusive fixed-fee accountancy service includes unlimited access to your own dedicated accountant throughout the year and covers all your business and personal tax affairs needs.

All our accountancy services include:
  - Unlimited access to your accountant
  - Ongoing advice on how to manage your business
  - Proactive tax advice throughout the year
  - Updates and reminders so you'll never miss a deadline
  - Free bookkeeping software

As a sole trader our fees start at just £60 + VAT a month, for this you receive the above plus:
  - Completion of your Self-Assessment tax return
  - Advice on how much Income Tax to pay
  - Guidance on National Insurance contributions

As a limited company our fixed fee packages are bespoke to your needs, however typically you’ll receive the above, plus:
  - Completion of your year end accounts*
  - Completion and submission of your annual return Companies House
  - The director/s Self Assessment tax return
  - Payroll bureau
  - Dividends and corporation tax computations

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 01442 275767 or email

*If you would like us to complete your company year end accounts we simply ask that you have been a client of Easy Accountancy for one year or have made 12 monthly payments.