Fixed-Fee Sole Trader Accounting

Ditch the spreadsheets and receipt folders. We handle your bookkeeping, self-assessment tax returns, and HMRC compliance for one simple monthly fee.

Hassle-Free Compliance

Specialist support for self-employed professionals

Running your own business is demanding. Spending your evenings sorting through paper receipts and updating spreadsheets is time-consuming and prone to errors. At Internal Accountants, we believe you should focus on doing what you do best.

For a fixed monthly fee, our ACCA/ACA-led team acts as your dedicated finance back-office. We migrate you to Xero, set up automated receipt capture, categorize your transactions, and reconcile your ledgers. When tax season arrives, we prepare and submit your Self-Assessment Tax Return (SA100) ensuring full accuracy and compliance.

"No hidden costs. No surprise fees. Just crystal-clear numbers."

Our Service Package

Fixed-fee plans with zero hidden costs or surprise bills
Full preparation and filing of your Self-Assessment Tax Return (SA100)
Xero setup and digital bookkeeping reconciliation
Accurate tracking of allowable business expenses to minimize tax
Unlimited telephone and email support with a 3-hour response guarantee
Regular, proactive reviews to prepare for Making Tax Digital (MTD)

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TAX ADVANTAGE

Xero & Receipt capture

We supply you with receipt-scanning tools integrated with Xero. Simply snap a photo of any receipt on your phone, and it's instantly uploaded, analyzed, and filed in your accounts. No paper clutter, ever.

Tax Optimization

How we maximize your allowable tax deductions

Many sole traders overpay their tax because they fail to record allowable business expenses. We review your bank transactions quarterly to spot missed deductions and ensure you claim every pound you are legally entitled to:

Working From HomeClaim a proportional amount of your rent, mortgage interest, electricity, heating, and internet.

Travel & VehiclesClaim travel fares, hotel stays, and flat-rate mileage allowances (45p per mile) for business trips.

Tools & Software100% tax relief on laptops, phone bills, accounting tools, specialized equipment, and uniforms.

Professional FeesDeduct costs of business insurance, training courses, professional memberships, and accounting fees.

FAQ

Sole Trader Accounting FAQs

What is a sole trader and when do I need to register?

A sole trader is a self-employed person who is the sole owner of their business. You must register as a sole trader with HMRC as soon as your self-employed earnings exceed £1,000 in a single tax year. You need to register by October 5th following the end of the tax year in which you started self-employment.

What expenses can I claim as a sole trader?

You can claim tax deductions for any expenses incurred 'wholly and exclusively' for your business. This includes office costs (stationery, software), travel expenses (fuel, train tickets, but not commuting), marketing, insurance, and a proportion of home utility bills if you work from home.

How does Making Tax Digital (MTD) affect sole traders?

HMRC's Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) will require self-employed individuals with qualifying income above £50,000 to keep digital records and submit quarterly updates using compatible software from April 2026, and those earning above £30,000 from April 2027. We ensure your business is fully compatible with digital tools like Xero to satisfy these rules seamlessly.

Why use an accountant instead of filing self-assessment myself?

While you can file your own tax return, using a Chartered Accountant ensures you claim all allowable expenses and reliefs to pay the absolute legal minimum tax. We prevent costly filing errors, manage HMRC deadlines, and provide year-round business growth advice.

Ready to simplify your Sole Trader taxes?

Get expert accounting support and complete peace of mind starting today.

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London Office