Thomas & Co Accounting Services
Accountants in Greater Manchester
We focus on your sole trader accounts, so that you can focus on your trade.
What is a Sole Trader?
You are a sole trader/ self-employed if you are the exclusive owner of a business, and are therefore entitled to any post tax profit and responsible for any losses.
Accounting tips for Sole Traders
What records do Sole Traders need to keep?
Sole traders are required to keep records of profit, expenses and invoices, as well as filing regular tax returns.
What qualifies as an expense?
If you aren’t confident on what qualifies an expense, we will talk you through it. We will explain how your sole trader expenses are offset against your turnover, meaning you don’t pay tax on that amount. Some examples of sole trader expenses include:
- Accountancy fees
- PPE and branded clothing
- Travel expenses such as parking, fuel etc
- Advertising costs
- Business phone costs
- Staffing costs
- Business rates and utilities
Tax returns for Sole Traders
It’s important to get your tax affairs in order so you avoid penalties down the line. The thought of filing a tax return can be overwhelming, so let us handle it. Thomas & Co Accounting take the pressure away so you can get back to business. Chat to us about your needs and any concerns (even those silly ones), then sit back and let us work our magic.
Saddleworth – Tameside - Greater Manchester
Why choose us as your Sole Trader accountant?
We take the stress out of accounting
Let our experienced professionals handle your sole trader accounting so you can focus on your business.
Our prices are tailored to your needs so you never pay over the odds.
Keep on top of your Sole Trader tax return
We make sure you never miss a deadline.
Explore our other accounting services
Business Start Up
Not Your Everyday Accountant
We are invested in you. Is there something worrying you?
Let us take away the pressure so you can focus on the bigger picture, growing your business. Got concerns about that too? Ask us, our expertise helps you plan for the future and reach your goals. At Thomas & Co Accounting we have streamlined our service using the latest cloud accounting software, this allows us to provide the highest level of customer service to our clients and calm any financial anxieties.