Sole Traders
Making Tax Digital ready
HMRC recognised
Simple, straight forward accounting for business
Our services allow you to do what you do best, focusing on running your business. We free up your valuable time by taking control of your financial processes and delivering them in a timely manner to give you peace of mind.
Speak to the team today:
0333 880 2460
Contact Us
- Phone: 0333 880 2460
PROFESSIONAL ACCOUNTING SERVICES FOR SOLE TRADERS
If you are a sole trader, you are classified as being self-employed, whether you provide services or products. This means that you have to adhere to regulations set by HMRC (Her majesty’s Revenues and Customs). Failure to be compliant can result in financial sanctions and can mean that your accounts will be more closely scrutinised in the future.
With dozens of rules and demands to meet on top of the stress of being a sole trader, keeping up with your accounts, keeping accurate records and correctly filing your annual returns can be a daunting task. At AGP Consulting, we provide you with seamless, professional accountancy services and advice to help you to stay compliant.
professional accounting services tailored to your needs.
accurate accounts aren’t just a legal requirement; they help you to assess your annual profits and gauge the stability of your business.
we offer three cloud-based solutions that will allow you us to share information and keep records efficiently.
UNDERSTANDING
YOUR RESPONSIBILITIES
As a sole trader, you are responsible for your all profits and losses of your business. You are legally obliged to keep a record of all your income and expenses; submit a tax return in a timely manner; ensure that you pay Income Tax on profits made above your income threshold; pay National Insurance; and become VAT registered if your anticipated turnover is more than £83,000 within the financial period. At AGP Consulting, we will take the time to understand your business and how you operate, making the process of recording your activities simple and convenient for you.
Budget and cashflow forecasts
Monthly and quarterly management accounts
Budget comparison
ACCOUNTANCY ADVICE
AGP Consulting provides a full accountancy service to sole traders, giving you peace of mind that your accounts are in order, while allowing you to get on with your business. This includes access to online bookkeeping facilities as well as cloud-based software to streamline communications or, if you prefer, a simple spreadsheet by which you can record your activities.
Profitability analysis
Credit control
Customer activity
Performance ratios
We have been using AGP Consulting for our business since we have started almost 10 years ago. They have never failed to provide an excellent service
TAX ADVICE
As a sole trader, some of your business expenses can be deducted before your tax is calculated. It can be hard to know exactly what can and can’t be deducted, and to make things more complicated, you can sometimes deduct a proportion of your expenses, for example heating and electricity bills if you work from home. Don’t get into the habit of thinking that everything, from your family’s television to the new car, is deductible against your tax. Your designated accountant will talk you through your income and expenses and ensure that you are paying the right tax; but not too much.
A TAILORED APPROACH, ALL YEAR AROUND
As a sole trader, you will be allocated your personal adviser. However, at AGP Consulting, we understand that sole traders, in particular, can’t always predict when they will need support. Our entire team will be aware of your business so that, if your adviser is absent from the office, there will always be somebody who is able to offer you support.
If you would like to find out about the full accountancy, bookkeeping and tax services offered by AGP Consulting, get in touch; we will be happy to talk to you about your needs and advise on the best approach for your needs.
