Sole Trader Accountant in Bristol
Are you a sole trader? Being a self-employed sole trader is the easiest way and fastest way to start trading.
As a sole trader, you do not have a separate legal entity from yourself, such as with a Limited Company, you make all the decisions and any profit you make is yours, subject to income tax and national insurance.
This is where we can take some of the weight off your shoulders
When you use our cost-effective service, we will prepare your annual accounts and self-assessment tax return – ensuring that it is filed on time – and offer advice on how you can minimise your tax liability, by making full use of all the reliefs and allowances to which you are entitled.
Our accounting service is suitable for a sole trader just starting out or for someone who has been operating for a number of years and wants a change of accountant.
Excellent service. Quick response. Have been using them for a few years. No complaints.
H. Sarwar
Benefits for a sole trader
Start-up costs are very low and the initial setup is simpler and a lot quicker. You are your own boss and are entitled to make all the business decisions yourself and retain all the profits the business makes.
Do I need to submit a tax return?
If you are a sole trader you will need to submit a tax return. The tax year runs from 6th April to 5th April the following year. Here at Reed & Co, we are able to complete your accounts and tax return ahead of the deadline, ensuring your return is submitted on time to avoid any late filing penalties.
How do I register as a sole trader?
If you are a sole trader it’s vital that you register for self-assessment tax returns with HMRC. This is absolutely vital and it has to be done right to avoid possible penalties and prosecution. Here at Reed & Co, we are able to do this for you to ensure it’s done correctly as well as completing your accounts and self-assessment tax returns.
Maximising Allowable Expenses
For a sole trader, every penny counts. We identify all qualifying expenditures including travel, office supplies, and professional subscriptions to ensure you claim every eligible deduction. By maximising your allowable expenses, you can reduce your tax liability while maintaining full compliance, ultimately retaining more capital to reinvest in your business operations.
MTD Ready for Sole Traders
Making Tax Digital needn’t be daunting. We configure your accounting systems for full HMRC compliance, ensuring all digital records are maintained accurately. Quarterly submissions become seamless, allowing you to file with confidence that your data is error-free. Our expertise simplifies the regulatory process, enabling you to focus entirely on scaling your business operations.
Outsource your accounting to us
Apart from the services offered, Reed & Co can offer a comprehensive accounting service for several accounts of businesses in Bristol and the surrounding areas. Outsource your accounting services to us and we will make sure you save a lot of unnecessary costs and time. To find out more about our services, contact us today.
What Our Clients Say
Callum Garret – GarrettCo Ltd
Paul Reed has looked after my business accounts for the past two years, he is very efficient and a great advisor for someone with little expertise like myself! HIGHLY RECOMMENDED
Elliot O’Neil – Ltd Company
