Sole Trader Accountant – Specialist Tax Return Advice

Understand being a sole trader vs Ltd. company and get tax return advice from a specialist sole trader accountant.

This is the simplest and cost efficient way of trading. There are only a few formalities to trading as a sole trader vs as a Ltd. company, the most important of which is informing HMRC. Every business is required to prepare accounts each year, which forms the basis of how tax and national insurance is paid. Any profits generated in this medium are automatically those of the sole trader.





Adams Moore operates as a specialist sole trader accountant for a wide range of clients in Tamworth, surrounding areas and Birmingham. Whether you’re starting a new business and require help on understanding the benefits of working as a sole trader vs Ltd. company or you are already up and running, we can take care of the following for you:

Complete your annual accounts and tax return
Discuss your draft accounts in person
Calculate your tax position
Look for ways to reduce the tax you pay
Submit your accounts to H M Revenue & Customs
Deal with all correspondence and answer your taxation queries

Benefits for a sole trader

Self employed people in Tamworth, Lichfield, Sutton Coldfield and Birmingham reap the benefits of a specialist sole trader accountant.

There are many benefits to being a sole trader. Start-up costs are low as set-up and operation is simpler – there is no red tape. You are your own boss, can make all the business decisions and retain all profits. Should you wish to wind up your business at a later stage, it is much easier to do so from a sole trader status. It’s a great way to start-up, as the business structure can be changed at a later stage as the business grows.

However, there are some aspects to bear in mind if considering becoming a sole trader. As there is no distinction between your business and your personal assets, you are liable for any debt incurred in business operations. You will also pay tax as a single person, and raising finance for business start-up or growth can be more difficult.

As your sole trader accountant, Adams Moore can recommend the best business structure for you on an ongoing basis, offer tax return advice and take the accountancy stresses away, leaving you to get on with your day to day.