For sole traders, accountants like Peach Wilkinson can help throughout your business life from the time when you first have your idea until you sell your business or retire. We have a wealth of experience from our own business and from our relationships with numerous clients in a very wide range of trades over many years.
We can help you get off on the right foot, perhaps by assisting in the preparation of business plans and forecasts while you are seeking finance. Also ensuring that you have complied with the legal requirements of setting up a business, and advising you on suitable record keeping.
If you wish, we can do your bookkeeping for you. You let us have your invoices, bank statements at regular intervals and we can keep your records up to date. Later we can provide financial information to help you run your business as well as producing the annual accounts and associated personal tax returns and if relevant, the partnership tax return.
If you need to register for VAT or if it might be beneficial even if not compulsory, then we can help with the registration process, and ensure that your record keeping is suitable for the preparation of VAT returns. In many cases we prepare the VAT returns on behalf of clients.
If you have grown to the point of employing people, we can advise you on how to set up a payroll with HMRC, and often carry out the weekly or monthly payroll calculations for our clients, as well as the necessary annual return and P11d’s (benefits in kind) if this applies.
We will advise sole traders if it might be in their best interests to trade as a limited company.