AdamsMoore ¦ Tamworth

Sole Trader


Sole trader; the simplest and most cost efficient way of trading. Start-up costs are low as set up and operation is more simple – there is no red tape. Whilst there are only a few formalities to trading as a sole trader compared to trading as a limited company, there are still certain obligations to fulfil which you may want an accountant to assist with, 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.

At Adams Moore accountants we can help you to understand the accounting requirements for your sole trader business, for example how much income tax you need to pay, self assessment, or the significance of using your home as your business premises. We can save you time so that you can get on with the day to day running of your business.

Who are our sole traders? Our clients come from all sectors, including builders, painter/decorators, carpenters, plumbers, bricklayers, hairdressers, tattoo artists,  pharmacists, childminders, landscape gardeners, internet retailers, kitchen fitters, taxi drivers and café owners. But what they have in common is that having a trusted accountant that specialises in sole traders can ease the pressure on a business owner.

Sole trader accountantDo sole traders need an accountant?

Using an accountant to help run your business is vital for sole traders. We can save you money long-term and ensure confidence if you want to become a limited company in the future. Our dedicated team are experts in Self-Assessment tax returns with a wealth of experience on how to make your business as tax efficient as possible. Let us simplify the process by removing all the jargon and completing accurate and timely tax returns for you, thus avoiding costly mistakes.

Our sole trader package is comprehensive and includes the following:

  • Completing your annual accounts
  • Discussion of your draft accounts in person
  • Calculating your tax position
  • Look for ways to reduce the tax you pay
  • Submission of your tax return to HM Revenue & Customs
  • Dealing with your accounting queries

In addition, we can provide a number of other services including:

  • VAT – registration and management
  • Payroll – running your PAYE wages and deductions
  • CIS
  • Xero accounting software / Sage accounting software

Please contact us for a quotation.

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