Accounting for sole traders, without the admin.
Keep your records straight, claim what you are entitled to and file your tax return on time — with a chartered accountant to ask whenever something comes up.
- Self Assessment prepared and filed
- Expenses reviewed properly
- Advice on VAT and incorporation
What sole traders usually find difficult
Knowing what you can claim
Use of home, mileage, equipment, phone and subscriptions all have rules. Claiming too little costs money; claiming incorrectly creates risk.
Records that build up
Invoices, receipts and bank transactions are easy to leave until January, which is when errors and stress appear.
Tax that arrives in lumps
Income tax, Class 4 National Insurance and payments on account can land together. Without a forecast, the bill is a shock.
Approaching the VAT threshold
Turnover can pass the registration threshold gradually, and registering late causes problems that are avoidable with monitoring.
Making Tax Digital changes
Digital record keeping and reporting requirements continue to expand for the self-employed and landlords.
When to incorporate
A limited company is not automatically better. The answer depends on profit level, drawings, risk and future plans.
How Goodman Accounting can help
We handle the compliance work in the background and give you a clear view of your position through the year — not just once it is too late to act.
Your tax return, done properly
We prepare and file your Self Assessment, confirm the tax due and flag payments on account in advance.
Simple bookkeeping
Cloud software set up around how you actually work, with bank feeds so it takes minutes a week.
Expense reviews
We check what is allowable for your trade so the claim is complete and defensible.
VAT monitoring
We watch your rolling turnover, advise on schemes and handle registration and returns when the time comes.
Tax forecasting
You get an estimate of what to set aside, so the bill is planned for rather than a surprise.
Incorporation advice
A straight answer on whether a limited company would suit you, and help with the change if it does.
The services sole traders usually need.
Your accounting year as a sole trader
Record income and costs
Sales and expenses are captured through the year in cloud software or a simple agreed format.
Review VAT position
We keep an eye on turnover against the registration threshold and advise before it becomes an issue.
Prepare year-end figures
After the tax year ends we pull together your accounts and check the treatment of each item.
File your tax return
We prepare the return, talk you through it and submit it once you approve.
Plan the payments
You get the amounts and dates in advance, including any payments on account.
Questions we are asked most.
If your question is not here, ask us directly — an initial conversation costs nothing.
Ask a questionDo I need to register with HMRC?
If you are trading self-employed above the trading allowance you generally need to register for Self Assessment. We can confirm your position and handle the registration.
What records should I keep?
Sales invoices, business expense receipts, bank statements and mileage. Digital copies are fine, and we will set up capture so nothing is filed on paper.
When should I register for VAT?
Registration is required once taxable turnover passes the threshold on a rolling twelve-month basis, and voluntary registration can suit some businesses. We review both.
Should I switch to a limited company?
It depends on profits, how much you draw, commercial factors and long-term plans. We model both and give you a recommendation rather than a general rule.
Can you take over from my current accountant?
Yes. We handle professional clearance and collect the information we need with minimal involvement from you.
Chartered expertise. Personal service.
A modern chartered practice offering both the compliance work you have to do and the financial insight that makes it worth doing.
Same-Day Responses
We know how frustrating it can be waiting days for an answer. We aim to respond to client queries on the same working day, so you can get the support you need quickly.
Clear, jargon-free advice
We explain what the numbers mean in plain English, what you owe, when it is due and what your options are before decisions are made.
Cloud-based and low admin
Modern accounting software, bank feeds and receipt capture mean less paperwork for you and records that stay up to date all year.
Fees agreed upfront
You know the scope and the cost before we start. No surprise invoices for a phone call or a quick question.
Looking for an accountant?
Whether you're starting a business, approaching your next tax return or looking for better financial insight, we'd be happy to discuss how Goodman Accounting can help.