Sole Traders / Self-Assessment
An individual who runs their own business as an independent entity. As a sole trader, the individual is the sole owner of the business, and there is no legal distinction between the business and the owner. The business’s profits and losses are considered the personal income of the sole trader.
For sole traders, a variety of services are available to support their business operations and help them navigate the complexities of entrepreneurship.
Our Sole Traders Services Include:
Initial Business Registration
Assistance with the initial business registration process, including obtaining necessary licenses and permits. Registration for UTR (Unique Tax Reference)
Financial Records Management
Management of financial records, tracking income and expenses, and preparation of financial statements.
Financial Forecasting
Budgeting and financial forecasting to help sole traders plan.
Tax Planning
Tax Planning and Compliance
Tax Assessment
Self-Assessment Tax return SA100 submission.
Guidance On Tax
Guidance on tax obligations and strategies to optimize tax liabilities.
Submission Of Tax
Preparation and submission of tax returns, ensuring compliance with tax regulations.
Financial Advice
Personalized financial advice to support decision-making and strategic planning.
Financial Analysis
Analysis of financial performance and recommendations for improvement.
Financial Calculations
Calculating wages, handling tax deductions, and ensuring compliance with employment regulations if applicable.
Business Guide
Strategic guidance on business growth, market positioning, and expansion opportunities.
Competitive Analysis
Competitive analysis and recommendations for enhancing business operations.
Legal Assistance
Assistance with legal documentation, contracts, and compliance with relevant laws.
Legal Issues
Guidance on navigating legal issues that may arise during business.
Insurance Recommendations
Recommendations on appropriate insurance coverage to mitigate risks and protect the business.
Retirement Planning
Advice on retirement planning, including pension options and investment strategies for long-term financial security.
Business Recommendations
Recommendations for adopting and integrating technology to streamline business processes.
Accounting Software
Assistance with implementing accounting software, online payment systems, and other digital tools.
Do you need more advice?
Consult one of our experts to advise and guide you through the pros and cons of setting up as a Limited Liability Company or indeed any of the Ency&Line services.
These services aim to provide comprehensive support to sole traders, allowing them to focus on their core business activities while ensuring compliance, financial stability, and strategic growth. The specific services chosen may depend on the individual needs and goals of the sole trader’s business.
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