Sole Traders’ Tax Return Assistance In Shepperton

All sole traders are required to prepare accounts and a personal Tax Return. Often the most important area of concern to you is tax. We aim to work with you to minimise tax liabilities and we do as much or as little work as required by individual clients.

We understand that different levels of support are required and hence we cater for all your accounting needs.

Three Client Case Studies

Alex is a self-employed plumber

• likes access to financial information.
• likes to feel in control of finances and tax.

Solution

• We set up Xero or QuickBooks giving Alex online access to accounts.
• We agreed between us who is responsible for entering different information.
• Accounts are prepared from the software with consultation with Alex.

Matt is a construction worker

• has no interest in accounts and only wants to do the minimum work required and pay his taxes on time.

Solution

• Matt gives us all of his accounts information every month /quarter (or at the end of the tax year) and we do the book-keeping for him This will include vat returns if required.
• At the end of the year we do the final accounts and tax return and secure any CIS repayment due.

Georgina is a fitness trainer

• likes to keep manual records for her own purposes but does not understand what expenses are tax deductible and how tax is calculated.

Solution

• We met with Georgina and explained what business expenses are and how the tax is calculated and paid to HMRC.
• At the end of the tax year she passes all her records to us including all her receipts and we prepare her accounts and Tax Return.
• We meet Georgina again to discuss the accounts so that she understands where all the figures have come from and exactly what her forthcoming tax liabilities are.

If you are a sole trader and would like assistance or advice with your tax returns, please call the friendly professionals at Cater Chartered Accountants today.