Self Employed / Sole Trader / Partnerships.

Anyone who is self employed is running a business and by law you are required to keep accurate financial records. However a self-employed contractor will not normally require a complex accounting system, but will need to prepare a statement of income and expenses and calculate profit (or taxable earnings) to complete the Self-Assessment Tax return.

Unincorporated trading business will often require more detailed records. If the business is run as a partnership each partner will need to understand how the business is performing. In all cases you need to know your tax liability at the end of the financial year and complete the necessary tax returns and file them in time to avoid penalties.

If your affairs are complex you may use the services of a qualified accountant/tax advisor. I will ensure that your records are maintained and presented in a format that will minimise the time your accountant needs to spend on them and so keep their fees to a minimum.

Maintain book keeping and accounting records as required (see Bookkeeping).
Payroll & CIS.
Manage VAT.
Calculate personal tax liabilities.
Prepare partnership returns.
Prepare Self-Assessment returns.

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