SPECIALIST ACCOUNTANTS FOR SOLE TRADERS & SELF EMPLOYED
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Being Self Employed?
As a Sole Trader you are classified as self-employed by HM Revenue and Customs (HMRC) whether you sell goods or services. You also have to register with HMRC and certain rules and regulations apply, all of which Pearl can take care of.
When you join Pearl, we will provide you with a free bookkeeping software to get you started and ensure you never miss a deadline.
What We Offer?
We have hundreds of self employed clients with years of experience. This means your in good hands. When you join Pearl we will provide you with a fixed monthly package. This includes getting you registered properly, submitting a Self-Assessment Tax Return at the end of the financial year and paying Income Tax due. We will take on all the hard work and stress that comes with doing the bookkeeping and meeting HMRC deadlines so that you can run your successful business.
Sole Trader Responsibilities
The responsibilities that come with being a Sole Trader are different to those of a company director who runs a limited company. You run your business as an individual and keep all business profits after tax has been paid on them. You are also solely responsible for losses that your business may make.
There are also certain HMRC rules and regulations that must be followed:
- Keep records of all business sales and expenses
- Submit a Self-Assessment Tax Return each year
- Pay Income Tax due on profits made
- Pay National Insurance
- Register for VAT if your turnover is expected to be more than £83,000 a year
Advantages & Disadvantages of Being a Sole Trader
Advantages of Being a Sole Trader
- Decisions can be made easily and swiftly as you are in total control of your business
- You get to keep all the profits that are made as the sole owner of the business
- Customer service can be delivered with a personal touch giving you the upper hand over larger more complex competitors
- All business financial data are private and are not available to the public keeping your business affairs under wraps
- You are able to hire staff to work for you in the running of your business
Disadvantages of being a Sole Trader
- Personal liability lies with you as the only business owner
- If any losses are made you could end up losing your personal assets
- If it not easy to obtain large financial loans from banks and raising finance is often difficult
- Economies of scale cannot be leveraged because lower prices and discounts from suppliers are often only given to larger businesses
- If you fall ill, you will not get paid if you are not working and your business and financial status will suffer
Specialist Online Accounting Services
Pearl Accountants are Specialist Online Accountants with expertise in Sole Trader Accounts and as Qualified Chartered Accountants we can provide you with expert business advice. For a fixed monthly fee our dedicated accountants will ensure that all HMRC tax returns and Self-Assessments are done online and deadlines met using specialist software that is HMRC approved. We will also ensure that your year-end accounts are ready by setting you up with our specialist online software accounting package QuickBooks which can be used on any device from any location and supported by us, as we are QuickBooks ProAdvisors in London
Watch our quick introduction Video
FREE Brochure Download
Download our FREE Self Assessment Brochure
Included in our Brochure:
- Self Assessment
- Record Keeping
- Deadlines
- Expenses you can claim
- Much more..
OUR OFFICES
OUR OFFICES
staff@pearlaccountants.com
020 8582 0076
- ACCOUNTANTS LONDON
- ACCOUNTANTS EAST LONDON
- ACCOUNTANTS HOUNSLOW
- ACCOUNTANTS KINGSTON
- ACCOUNTANTS HARROW
- ACCOUNTANTS STAINES
LONDON ACCOUNTANTS
We have offices all over the London area, including Covent Garden, which gives you a central accountancy hub in London’s famous West End district. As a London accountants, we offer professional accountancy services to clients all over the nation’s capital and the surrounding areas, working with a range of businesses, sole traders, startups, landlords, and contractors in order to streamline their tax liability and bookkeeping procedures.
Ground Floor, 90 Long Acre Covent Garden, London WC2E 9RZ
EAST LONDON ACCOUNTANTS
Our East London accountants firm gives those in East London access to some of the finest accountants around. Our accountants in Canary Wharf is right in the heart of London’s financial district. We work with clients of all shapes and sizes, including small-to-medium-sized businesses, startups, landlords, and contractors. Our professional East London accountants pride themselves on their expertise and work ethic, providing you with stellar customer service every time.
29th Floor, One Canada Square, Canary Wharf, London, E14 5DY
HOUNSLOW ACCOUNTANTS
Pearl Accountants has offices all over London, with one of our most prominent offices being located in Hounslow, West London. We are experienced accountants in Hounslow, acting as business growth accountants for the majority of our clients due to our ability to scale businesses and help to drive their growth. We are dedicated to serving companies of varying sizes, from individual sole traders to small and medium-sized businesses across the UK.
Quest House, Ground Floor, 125-135 Staines Road, Hounslow TW3 3JB
KINGSTON ACCOUNTANTS
We have over 30 years of accounting experience in the Kingston area, using our eclectic combination of traditional accounting processes and innovative accounting software in order to bring our customers the very best in accounting and customer service. We act as business advisory accountants, providing our customers with consultations that advise them on the best ways to grow their business while keeping their accounts and tax liabilities in order.
Causeway House, 13 The Causeway, Teddington, Kingston TW11 0JR
HARROW ACCOUNTANTS
We are one of the most prominent accountancy firms in London, with offices all over London. As a result, one of our offices is based in Harrow, and is located around the Park Royal area. Pearl Accountants has over 30 years of experience as Harrow accountants, serving our clients and helping them to succeed in their personal and professional lives.
Suite 618, Crown House, North Circular Road, Park Royal, NW10 7PN
STAINES ACCOUNTANTS
Our accountants in Staines are here to serve you, with our 30 years of experience in providing bespoke accountancy services for landlords, businesses, contractors, startups, and much more. Here at Pearl Accountants, we specialise as business advisory and business growth accountants, meaning that we have the accountancy knowledge, expertise, and experience to provide commercial consultations and advise you on how to grow your business whilst minimizing your tax bills simultaneously.
Rourke House Watermans Business Park The Causeway Staines TW18 3BA
- ACCOUNTANTS LONDON
- ACCOUNTANTS EAST LONDON
- ACCOUNTANTS HOUNSLOW
- ACCOUNTANTS KINGSTON
- ACCOUNTANTS HARROW
- ACCOUNTANTS STAINES
LONDON ACCOUNTANTS
We have offices all over the London area, including Covent Garden, which gives you a central accountancy hub in London’s famous West End district. As a London accountants, we offer professional accountancy services to clients all over the nation’s capital and the surrounding areas, working with a range of businesses, sole traders, startups, landlords, and contractors in order to streamline their tax liability and bookkeeping procedures.
Ground Floor, 90 Long Acre Covent Garden, London WC2E 9RZ
EAST LONDON ACCOUNTANTS
Our East London accountants firm gives those in East London access to some of the finest accountants around. Our accountants in Canary Wharf is right in the heart of London’s financial district, making it an ideal home for our accountancy firm. We work with clients of all shapes and sizes, including small-to-medium-sized businesses, startups, landlords, and contractors. Our professional East London accountants pride themselves on their expertise and work ethic, providing you with stellar customer service every time.
29th Floor, One Canada Square, Canary Wharf, London, E14 5DY
HOUNSLOW ACCOUNTANTS
Pearl Accountants has offices all over London, with one of our most prominent offices being located in Hounslow, West London. We are experienced accountants in Hounslow, acting as business growth accountants for the majority of our clients due to our ability to scale businesses and help to drive their growth. We are dedicated to serving companies of varying sizes, from individual sole traders to small and medium-sized businesses across the UK.
Quest House, Ground Floor, 125-135 Staines Road, Hounslow TW3 3JB
KINGSTON ACCOUNTANTS
We have over 30 years of accounting experience in the Kingston area, using our eclectic combination of traditional accounting processes and innovative accounting software in order to bring our customers the very best in accounting and customer service. We act as business advisory accountants, providing our customers with consultations that advise them on the best ways to grow their business while keeping their accounts and tax liabilities in order. Our accountants in Kingston upon Thames are dedicated to helping you exceed with your business.
Causeway House, 13 The Causeway, Teddington, Kingston TW11 0JR
HARROW ACCOUNTANTS
We are one of the most prominent accountancy firms in London, with offices all over London. As a result, one of our offices is based in Harrow, and is located around the Park Royal area. Pearl Accountants has over 30 years of experience as Harrow accountants, serving our clients and helping them to succeed in their personal and professional lives.
Suite 618, Crown House, North Circular Road, Park Royal, NW10 7PN
STAINES ACCOUNTANTS
Our accountants in Staines are here to serve you, with our 30 years of experience in providing bespoke accountancy services for landlords, businesses, contractors, startups, and much more. Here at Pearl Accountants, we specialise as business advisory and business growth accountants, meaning that we have the accountancy knowledge, expertise, and experience to provide commercial consultations and advise you on how to grow your business whilst minimizing your tax bills simultaneously.
