Sole trading has become a go-to business option in the UK lately. According to the statistics, there are 5.6 million private sector businesses, and of this, 3.2 million are sole proprietorships. Sole traders’ numbers are increasing rapidly in the UK.
While these statistics are impressive, the amount of effort that is required to operate in this way is significant.
Sole trading has become a go-to business option in the UK lately. Sole Trader Accountant | Sherwin Currid | Accountants In Guilford
Hiring an accountant for sole trader is an expense, and you may be trying to minimise those. It’s therefore natural to wonder if, as a self-employed person, you HAVE to hire an accountant at all.
When you’re a sole trader, you’ll be responsible for a lot of things. You, for example, will be responsible for finding jobs and interacting with clients directly.
• 31 January 2022 – Self Assessment deadline (paying and filing)
• 28 February 2022 (extension) – last date to file any late tax returns to avoid a late filing penalty
• 1 April 2022 – last date to pay any outstanding tax or make a Time to Pay arrangement, to avoid a late payment penalty
HMRC gives Self-Assessment taxpayers more time to ease COVID-19 pressures.
The UK self assessment tax return filing deadline for 2020/21 has been extended by a month to the end of February 22 with all payments being required by 1 April 2022.
HMRC took this decision due to the Covid-19 pandemic putting additional pressures on to taxpayers.
The UK Government has implemented a new Plastic Packaging Tax (PPT) starting 1 April 2022 for businesses in the UK.
Business owners who place a high value on their time and peace of mind often end up outsourcing payroll. By partnering with a full-service provider, most of their payroll responsibilities – wage calculations, tax withholdings and deposits, reporting, etc. – are take care of for them.
To us, accountancy is about making things possible and getting things done, so we offer fixed prices, proactive tax advice and guaranteed turnaround times.
