Sole traders and the economy!
Challenge
Every sole trader, sub-contractor and landlord (and even company directors) have to report their income and expenditure to HMRC. This is done through a self-assessment tax return each year. The period runs from 6th April to the 5th April the following year. If you conducted any business in this period then you would need to register as self-employed and complete a self-assessment. Examples of a business include:
- Subcontractors:
You worked in the construction industry scheme (CIS) and tax was taken deducted from any payments you received. You are likely to be entitled to a tax rebate and should complete a self-assessment to reclaim any tax you have overpaid. - Landlords:
You own one or more properties where you receive rental income from a tenant. - Sole traders and partnerships:
You sell a product or service but are not registered as a company.
Solution
We take care of all the administrative work of registering you with HMRC as self employed so you can focus on the running of your business. In addition, we provide the support needed to ensure you have good financial controls in place, give you advice on how to claim all tax benefits available to you, complete your annual self-assessment tax return.
Results
A stress free environment knowing your tax return:
- Has been completed accurately
- Was submitted on time
- Claimed any rebates due to you