The advantages to starting up as a sole trader are clear; it's easy, and you don't have to go through the time and cost of setting up a limited company. If you have more complex tax affairs you're probably used to submitting a Self Assessment tax return form anyway; if not, you'll just have the one tax return to complete.
But there could be advantages to using a limited company. Read our guide on sole trader vs limited company advantages and disadvantages here: »
Bookkeeping and accounting for sole traders
For sole traders/ self employed workers we recommend the following package, which is available from us at a single, fixed monthly price;
- Quickbooks Online cloud accounting software with free updates, support and backups
- Chart of accounts set up relevant to your sector
- Full training via video
- Gathering, storage and processing of bills, receipts & invoices
- Bookkeeping
- Self Assessment tax return
Please contact us to get a fixed price quote covering this package or, if you manage your own bookkeeping and just want a Self Assessment tax return compiling, checking and submitting, we'll be happy to give you a price for that instead.