Sole traders

Tax returns, bookkeeping and the move to Making Tax Digital for Income Tax, for people who work for themselves.

Self-employed carpenters reviewing business records

Working for yourself means the business and your personal tax are one and the same. Anewthing keeps the records straight through the year, prepares the accounts and the Self Assessment return, and tells you what to set aside and when to pay it.

Making Tax Digital for Income Tax is now phasing in for sole traders and landlords by income level. Anewthing can set up compatible software, keep the quarterly updates on track and explain what changes for you.

How Anewthing helps

  • Bookkeeping from your receipts, invoices and bank statements
  • Year-end accounts and your Self Assessment tax return
  • Payments on account and what to set aside for tax
  • VAT registration when your turnover approaches the threshold
  • Making Tax Digital for Income Tax: software, quarterly updates and deadlines
  • Advice on whether a limited company would suit you

Services for sole traders

Common questions

Do I need an accountant as a sole trader?

Not by law, but most people find the time saved and the tax points picked up outweigh the fee, particularly once VAT or Making Tax Digital applies.

When is my tax return due?

Online Self Assessment returns and the balancing payment are due by 31 January after the end of the tax year, with a second payment on account by 31 July.

Talk to Anewthing about what you need

Tell us what you need. The scope and fee are agreed before work begins.

Call the practice info@anewthingaccounting.co.uk Based in Kent and working with clients across the UK.