10 Reasons Sole Trader Accounting is A Must For You
Accountant for Sole Trader
It’s never been easier to offer your expertise to businesses, whether you’re an IT consultant or a business analyst, or an architect or a surveyor, from the comfort of your own home or across the country.
Working for yourself as a non-limited entity as a sole trader means that you are the business, and keeping track of your money may be a difficult and time-consuming task for those with little or no accounting knowledge. It’s critical that your books and accounts be up-to-date and accurate in today’s world of greater compliance and regulations.
At Pearl Lemon Accountant for Sole Trader, we simplify accounting by providing a one-stop shop for all of your company’s accounting requirements. When you work with us and hire an accountant for sole trader you’ll have unrestricted access to your personal, professional accountant, who will collaborate with you to keep your business finances, tax filings, bills, invoices, and everything else up to date.
Does a Sole Trader HAVE to Hire an Accountant?
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 for sole trader 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. It will also be your obligation to file tax returns, which you will have to do every year.
You will, in particular, need to manage your own business accounts, just like any other enterprise. This is not as simple as it may appear, and it is one of the primary reasons why many sole traders like to engage an accountant.
Is it, nevertheless, necessary for sole traders to hire an accountant? No, that is not the case. There is no regulatory requirement that self-employed individuals have an accountant for sole trader on their payroll. This is a choice you can make yourself. But there are plenty of good reasons why it’s something you should give serious consideration.
The Benefits of an Accountant for Sole Trader
You’ll want to know the benefits of hiring an accountant for sole trader as a sole trader if you’re thinking about it.
So, here are some of the advantages you can expect when you hire Pearl Lemon Accountants as your sole trader accountant.
Working With Pearl Lemon Accountants
We’ll introduce you to your personal accountant once you become a client. Unlike other accounting firms, you’ll have direct communication with your personal accountant, which means you’ll always be able to reach your experienced advisor by phone or email.
We keep track of our client-to-accountant ratio to ensure that your business is well-served at all times, which means you can get to know your accountant by first name — something that we know is valuable to clients, however large or small their business is.
FAQs
How much is an accountant for a sole trader UK?
The cost of an accountant for a sole trader can vary depending on many things, such as the organisation you choose to keep your accounting needs in order. However, the average cost can be anywhere from £60 to £250 per month.
Do I need an accountant as a sole trader?
No, you do not have to have an accountant as a sole trader. However, as a sole trader, you already have a lot on your plate, and settling your accounts can be a very time-consuming process, especially if you don’t have much accounting knowledge. So, having an accountant in your corner could be very beneficial.
If you would like more information, feel free to book a call with our experts!
Can I do my accounts as a sole trader?
Yes, you can. Just make sure you set up your accounts in a way that allows you to record your income and expenses effectively.
Why choose our sole trader accountancy services?
Our accounting experts can help you with all your accounting needs as a sole trader. Pearl Lemon Accountants are qualified to help you with your tax filings, business finances, bills and much more. Wouldn’t it be great to have an accounting expert in your corner?
For more information, book a call with our experts today!
What are other ways Pearl Lemon can help me as a sole trader?
Another way that Pearl Lemon Accountants can help you as a sole trader is by taking care of all your accounting needs so you can focus on what matters to you most – running your business. With our help, you’ll always have good standing with HMRC, and better yet, you’ll be able to experience more savings during tax season!
If you would like more information, feel free to book a call with our experts!
Let’s Talk Accountancy.
They'll not only help you gather paperwork, documents, and receipts, but they'll also keep you informed about tax return deadlines, tax law changes, VAT bills, overdue invoices, and more.
Contact us today to get started!