Being a sole trader allows you to skip the hassle of registration procedures at company houses and to present annual accounts. You get to keep all your profits after paying the taxes and are personally responsible for any losses that your business may incur.
As a sole trader, you need to inform HMRC that you will pay tax through self-assessments and file a tax return each year. A separate bank account is not required (but it helps to have one).
Your main responsibility is to ensure your accounts are up to date. Our team will take care of all your daily invoicing and bookkeeping needs and guarantee that we remain on top of your accounts.
Keep a record and track your expenses and let us know which invoices you’d like us to raise. We’ll do the rest.