Accountants for Sole Traders
Keep on top of your accounting obligations and understand your tax liability with Treetops Chartered Accountants. We help sole trader businesses of all shapes and sizes.
Treetops Chartered Accountants for Sole Traders
Many people starting a small business or freelance services choose to operate as a sole trader. While it’s simpler than running a limited company, there’s still plenty to learn and tax obligations you must fulfil with HMRC.
At Treetops, we guide you through the ins and outs of sole trader accounting, from how to pay Income Tax and National Insurance Contributions to the implications of using your home as your business premises. We save you time so you can focus on running and building your business.
Do sole traders need a specialist accountant?
Working with a chartered accountant as a sole trader can save you time and stress.
Ultimately, the right sole trader accountant will help you confidently run your business and keep your business finances in check. They can also provide support for if and when you want to become a limited company, helping you register with Companies House and offering tax planning advice.
Whether you choose to hire an accountant or not, anyone self-employed is personally liable for their sole trader business and must keep accurate records and file an annual Self-Assessment tax return. Opening a separate business bank account helps simplify the process.
Can I do my own business accounts as a sole trader?
You can do your own accounts as a sole trader, and it’s less demanding than for a limited company, but it’s worth weighing up the time involved. Our qualified accountants provide expert support, helping you claim expenses, file tax returns, and stay up-to-date with HMRC.
What are the advantages of using a sole trader accountant?
Hiring a specialist sole trader accountant has many advantages. At Treetops, our knowledgeable team promises to:
- Simplify the process – our sole trader accountants deal with a spectrum of business owners daily and are experts at taking the jargon out of the process and utilising the latest accounting software.
- Make you tax-efficient – we’re fully aware of what is and isn’t tax-deductible, are always abreast of the latest HMRC rules and regulations, and we can assess your business structure to help maximise tax efficiency.
- Avoid costly mistakes – failing to file your Self-Assessment tax return on time or report accurately can result in fines, but we are here to help.
Will my accountant advise me on the most tax-efficient way to report my earnings?
Getting tax right is crucial for all sole traders. This is why, at Treetops, we prepare sole trader accounts to ensure your business runs as profitably as possible and makes the most of all eligible business expenses.
Sole trader businesses we work with
Our dedicated accountants have experience working with all sorts of clients, including:
- Freelancers
- Construction industry sole traders
- Builders, plumbers, painters, and decorators
- Media and creative services
- IT consultants
- Self-employed retailers
What accounts does a sole trader need?
Sole traders must keep track of profits, expenses, and invoices for five years after the relevant tax year. Each transaction must be properly categorised for HMRC, and there are strict rules as to which costs can be deemed business-related and which cannot.
That’s where we come in.
Our sole trader accountancy services
At Treetops, we provide a range of sole trader accounting services, including:
How Treetops Chartered Accountants can help sole traders like you!
Our accounting services for self-employed sole traders keep your business finances in check and help you expand your own accounting experience and business knowledge year on year.
With us, you’ll have peace of mind all year round. You’ll also get:
Expert knowledge of UK tax law for sole traders
Real advice that helps you understand your tax bill and avoid nasty surprises
Years of experience from working with self-employed clients in various industries
Clear and competitive pricing tailored to your needs
Get in touch today
Make your sole trader accounting stress-free. Call us today on 01252 541 401 or request a callback for a free consultation.
Just starting out? Check out our blog about the differences between setting up as a sole trader or a limited company before taking the leap.
Frequently asked questions about sole trader accounting:
How much do accountants charge sole traders?
Sole trader accounting packages and fees differ depending on your requirements.
At Treetops, we focus on offering a sole trader package that's right for you, which means no fixed monthly fee. Instead, we take the time to understand your business and give you an accurate quote based on your accounting needs. Rest assured, you'll find no hidden costs from the start.
What online accounting software does a sole trader need?
Swapping from Excel spreadsheets to the latest accountancy software offers so many efficiencies. We can recommend the best platforms that make managing your finances easier, from simple bookkeeping software to technology that can automatically chase invoices if the payment deadline is reached.
Do I need to be VAT-registered as a sole trader?
Only if your turnover exceeds the VAT threshold. But we'll advise you and handle VAT compliance if needed.
How does Making Tax Digital affect me?
Making Tax Digital will soon be introduced for Income Tax Self-Assessment for sole traders and landlords who meet the qualifying income thresholds. This three-phase approach, starting from April 2026, requires you to keep digital records and provide quarterly Self-Assessment tax returns.
Working with the experienced sole trader accountants at Treetops will ensure you are prepared for Making Tax Digital.
Contact Treetops
Please call or email to arrange your FREE consultation for any of our services.
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