Services for
Sole Traders
WE LOOK AFTER THE FIGURES, SO YOU CAN CONCENTRATE ON YOUR BUSINESS.
Registration as Self-Employed
Class 2 & Class 4 National Insurance
VAT Returns
PAYE for Employers
CIS for Contractors & Sub-Contractors
Sole Trader Accounts
Self-Assessment Tax Returns
KEY INFORMATION
Sole Traders must register with HMRC for self-assessment and NI contributions. If you are a sole trader you will be running your business as an individual. However, you are able to take on staff and use sub-contractors, as being a sole trader does not mean you have to work alone.
If you have employees or sub-contractors, you will need to account for tax on any payments made to them and this will be through either, Pay As You Earn (PAYE) for employees, or, the Construction Industry Scheme (CIS) for sub-contractors.
You may have to register for VAT if your income exceeds £85,000 and submit monthly, quarterly or annual VAT returns, accounting for VAT on your sales and purchases.
You will need to prepare accounts annually and submit a self-assessment Tax Return.
All of these services can be taken care of by the team at Emma Pickles Accountants, leaving you free to concentrate on running a successful business.
Latest INSIGHTS
Class 4 NICs who is liable?
Most self-employed people are required to pay Class 4 National Insurance contributions (NICs) if their profits are £12,570 or more a year.
Class 4 NIC rates for the tax year 2024-25 are 6% (2023-24: 9%) for chargeable profits between £12,570 and
Post Transaction Valuation Checks
A Post Transaction Valuation Check (PTVC) can be requested from HMRC for an individual to work out a capital gains tax liability or for companies to calculate corporation tax liability on chargeable gains. The request for a PTVC should be made using
View and prove your immigration status
A UK Visas and Immigration (UKVI) account can be used by eligible users to view and prove their immigration status online. This may be required to provide proof of your status to employers or higher education providers.
The service can also be used