Accounting for Sole Traders From £24.99 monthly

Benefits of setting up as a sole trader

  • Less bureaucracy. Minimal administration means anyone can self-start
  • No setup fees. Minimal administration means anyone can self-start
  • Complete control. Answer only to yourself.
  • Privacy. Limited companies must put certain details on public record. You don't.
  • Expense allowances. Keep track of any expenses, and claim tax relief at the end of the tax year.
  • Flexibility. Steer your business in the direction you want to. Decide your own hours.
  • Easy accounting. Much less bureaucracy than a limited company.
  • Keep profits. Whatever you make, you keep.
Sole Traders

What are the taxes?

Every tax payer is entitled to a tax free allowance of £11,500 for 2017/18. Income above this threshold is taxes at the following levels:

  • The Basic Income Tax rate of 20% on income up to £45,000
  • The Higher Income Tax rate of 40% on income between £45,001 and £150,000
  • The Additional Income Tax rate of 45% on income over £150,000.

In additional to Income Tax, sole traders are liable to pay two types of National Insurance Contributions (NICs):

  • Class 2 NICs which is £2.85 per week for Tax Year 2017/18
  • Class 4 NICs which is 9% of your earnings between £8,164 and £45,000, and 2% of any profits above this.

Our specialist services for sole traders

We have helped plenty of sole traders before, and we can do the same for you. We will discuss your options in detail to make sure you choose whatever is right for you and your business. We're committed to delivering an outstanding accountancy service to all our clients. We have helped over 5,000 to date. All have received:

  • A personal accountant
  • Face-to-face meetings
  • Highly-competitive fees
  • Money back guarantee
  • Expert advice at every turn

Contact us today to find out more about Hayes-based Simple Return, and let us give your business the professional edge.

Contact Us

Simple Return Accountants
396 Uxbridge Road, Hayes, Middlesex, UB4 0SE

Tel: 020 8819 3867
Fax: 020 8819 3867
E-mail: Hello@simplereturn.co.uk