Sole Traders
Tax rules are changing for sole traders, we can help.
A service tailored to your needs
Maximize the advantages of flexible work and potential for increased earnings through self-employment, designed to align with your lifestyle. Once you surpass £1,000 in a tax year, it’s essential to register with HMRC.
We understand the importance of meticulous record-keeping for income and expenses, ensuring accurate declarations and timely tax payments. Navigate VAT and Construction Industry Scheme (CIS) obligations with ease.
We assist with advice, preparing and submitting your personal tax returns to ensure compliance and tax efficiency.
Our process begins with providing you a questionnaire to gather details on your various income sources. Following this, we’ll request all necessary information from you.
You have the option to provide your information via a spreadsheet, which we’ll supply, along with any accompanying documents. Alternatively, we can handle all necessary bookkeeping tasks for you.
As part of our service, we’ll also offer guidance on allowable expenses that can be offset against your various income streams.
Let’s connect – allow us to guide you through the intricacies of self-employment for a smoother financial journey.
We help sole-traders like you to manage their income and taxes, by providing a tailored service to suit your needs. This can cover:
Self Assessment Tax Returns
We prepare and submit your Self-Assessment tax return accurately and on time, ensuring all income is declared and allowable expenses are claimed. Whether you have one income stream or several, we’ll guide you through the process, reduce your tax burden where possible, and keep you compliant with HMRC.
Bookkeeping
Let us handle the numbers, so you can focus on your business. We offer reliable, straightforward bookkeeping – organising your income and expenses into clear records that support your tax return and give you better visibility over your finances. Use our spreadsheet template or opt for a fully managed service.
VAT
Navigating VAT doesn’t need to be complicated. We’ll help you determine if and when you need to register, get your business set up correctly, and handle quarterly VAT returns on your behalf – making sure everything is filed correctly and on time with HMRC.
Making Tax Digital
Making Tax Digital for Income Tax is changing how many sole traders and landlords keep records and report their income to HMRC. If you’re unsure whether the new rules will apply to you, or what you need to do to prepare, we’ve put together a helpful guide explaining the key points, deadlines and practical next steps. Click here to read our Making Tax Digital article and find out how to get ready.
Construction Industry Scheme (CIS)
Whether you’re a contractor or subcontractor, we can register your business for CIS, submit your monthly returns, and ensure compliance with HMRC rules. We’ll also help you reclaim any deductions due and provide reminders to keep you on track throughout the year.
Dedicated Client Manager For Advice & Guidance
As a Munro Bowman client, you’ll have a named accountant who understands your business and is available when you need support. From answering quick questions to helping you plan for growth, your dedicated client manager is here to give advice and ensure nothing gets missed.
A professional, tailored, and individualised service
Every sole trader is different – from the way you keep your records to whether you need support with bookkeeping, VAT, Making Tax Digital or CIS. That’s why we tailor our service around you and your business.
Complete the form below to tell us a little about your circumstances and the support you need, and we’ll be in touch to discuss the right accounting service for you.
Services & pricing
| Monthly Services | Core |
|---|---|
| £44 +VAT |
|
| Unlimited expert advice from your Dedicated Personal Accountant | |
| Preparation & Submission of one Self-Assessment Tax Return | |
| Reminder services for all deadlines | |
| Assistance with Self-Assessment application | |
| Assistance with HMRC records checks | |
| Standard employment status references | |
| Award Winning Software | |
| Quarterly Making Tax Digital for Income Tax submissions | £8 + VAT |
| Preparation & Submission of quarterly VAT Returns | £20 + VAT |
| Preparation & Submission of CIS returns to HMRC | £15 + VAT (£5 + VAT per additional subcontractor) |
| Preparation of CIS statements for subcontractors | £5 + VAT per subcontractor |
| Preparation & Submission of Payroll | £10 + VAT per employee |
| Annual Services | Core |
|---|---|
| Preparation & Submission of one basic Self-Assessment Tax Return | £150 + VAT |
| Plus: Self-Employed Pages | £25 + VAT |
| Plus: Rental Pages (price per tenant) | £25 + VAT |
| Plus: Partnership Pages | £25 + VAT |
| Plus: Trust Pages | £25 + VAT |
| Plus: Foreign Pages | £25 + VAT |
| Plus: Capital Gains Pages | £25 + VAT |
Do you need bookkeeping services?
Bookkeeping is only necessary if your documents are in original format, such as invoices and receipts. This service will not be necessary if your information is provided using bookkeeping software. Bookkeeping services can be offered at £30 + VAT per hour, should you want us to take over with updating your accounting software monthly
Why choose us?
Our goal is to provide a seamless, stress-free accounting experience. With our dedicated support, industry expertise, and comprehensive services, you’ll have everything you need to keep your business finances in perfect order.
Get in touch today to discuss how we can help your business thrive!
Here to help
Contact us for a friendly, no obligation chat. We’re here to assist you with all of your tax and accountancy requirements.
Based in Bournemouth, UK. We service customers both locally and nationwide remotely, and are ready to help today.
Telephone: 01202 129 890
Email: accounts@munrobowman.co.uk
Munro Bowman Limited
1326 Christchurch Road
Bournemouth, UK
BH7 6ED
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