Sole traders are actually the most common type of business in the UK, so it’s surprising this area of self-employment doesn’t get more attention. Here are some of the key things to bear in mind when planning your sole trading business financials:
Of course, this should be a given. But that doesn’t stop hundreds of sole traders each year from being late in filing their yearly tax returns.
The domestic VAT Reverse Charge was introduced throughout the UK on 1st March 2021 for the construction industry, in an effort to combat VAT fraud. This Reverse charge is likely to have a significant impact on cashflow and VAT compliance, with major system changes required for those operating in the sector. To help your business adhere to the new rules, we look at the construction industry VAT Reverse Charge at a glance.
Rishi Sunak, Chancellor of the Exchequer, unveiled the UK Budget 2021 on Wednesday, 3 March. If you're wondering how this coronavirus budget will affect you, these key points at-a-glance should answer all your queries.
If there is one thing which makes most business owners wake up in a cold sweat, it is the prospect of undergoing an HMRC tax investigation. Even for those who have done nothing wrong, it can fill them with dread and cause a lot of extra stress. As with most things in life, you can take the sting out of a tax investigation by finding out more about it in advance.
When it comes to sole trader accounts and personal tax returns, it pays to be on the ball. This is especially true when it comes to filling in your annual self-assessment tax return as a sole trader. Not paying close attention to this key business task can see you land in hot water with HMRC and face stiff penalties. Very often, it is actually helpful to see what common mistakes other sole traders make, so you can avoid them. But which are normally seen time and time again?
This price plan is suitable for the start-up companies who are not VAT registered.
This price plan is suitable for the companies who are VAT registered and turnover is less than 100K with a couple of employees.
This price plan is suitable for the companies who are VAT registered; turnovers are more than 100K and have 2 directors and shareholders.
This bespoke price plan is suitable for the companies who are VAT registered, with more directors, shareholders and employees. Also, annual turnover is more than 200k and requires further bespoke services.
This price plan is suitable for self-employed individuals, landlords and those who need to submit Self-Assessment Tax Returns.
If you need to submit the Self-Assessment Tax Return, we can offer you competitive prices starting from £150 + VAT. Price can vary according to your nature of income. Please contact us for more details.
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