Sole Traders & Partnership Accounts

Less paperwork. More time to run your business.

Being self-employed gives you freedom, but it also means keeping on top of your accounts, tax and HMRC deadlines.

Whether you’re a sole trader working on your own or you’re running a business with a partner, we can take care of the numbers for you.

We’ll prepare your accounts, calculate your taxable profit, complete your Self Assessment tax return and deal with HMRC on your behalf, giving you one less thing to worry about.

You run the business. We’ll look after the numbers.

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Sole trader accounts made simple

Your accounts need to show an accurate picture of your business income and expenses, but working out your taxable profit isn’t always as straightforward as looking at your bank account.

There are specific rules around allowable expenses, capital expenditure and other adjustments that can affect how much tax you pay.

We’ll prepare your accounts correctly, make the appropriate tax adjustments and complete your Self Assessment tax return.

Most importantly, we’ll explain the figures to you in plain English, so you understand what you’re paying and why.

Partnership accounts

Running a business with someone else can make things a little more complicated.

Partnership accounts need to show the overall results of the partnership and how the profits or losses are divided between the partners.

We’ll prepare the partnership accounts, calculate each partner’s share and use that information to complete the individual Self Assessment tax returns.

Whether you’re starting a new partnership or have been running one for years, we’ll make sure your accounts and tax obligations are properly taken care of.

Your accountant should do more than just your tax return

We don’t see your accounts as simply a set of figures that need submitting to HMRC once a year.

Your accounts can tell you a lot about your business.

We’ll help you understand:

  • How profitable your business really is
  • Whether your costs are increasing
  • How much tax you may need to pay
  • Whether you’re charging enough for your products or services
  • How your business is performing compared with previous years
  • Whether you’re keeping enough money aside for your tax bill
  • Where there may be opportunities to improve profitability

And because we can work with you throughout the year, you don’t have to wait until your tax return is due to ask questions or get advice.

Making Tax Digital for Income Tax

Making Tax Digital is changing the way many sole traders and landlords manage and report their income.

From 6 April 2026, sole traders and landlords with qualifying income over £50,000 are required to use Making Tax Digital for Income Tax. The threshold reduces to £30,000 from April 2027 and £20,000 from April 2028.

Not sure whether MTD applies to you? We can help.

We can help you understand what the new rules mean for your business, choose suitable accounting software and get your records set up correctly.

We can also help you stay on top of your quarterly reporting requirements.

If you’re already using cloud accounting software, we’ll make sure your bookkeeping and reporting processes are working properly.

FIND OUT MORE ABOUT MAKING TAX DIGITAL →

Already using cloud accounting?

We work with leading cloud accounting software including Xero, QuickBooks and FreeAgent.

If your accounts are already online, we can help you get more from them.

If you’re still using spreadsheets, boxes of receipts or a shoebox full of paperwork, we can help you move to a simpler and more efficient way of managing your finances.

Our bookkeeping service can take care of the day-to-day recording and reconciliation, leaving you with accurate information without having to spend your evenings doing the accounts.

Keeping your tax bill under control

Nobody wants to pay more tax than they need to.

We’ll make sure your accounts include the expenses and tax reliefs you’re entitled to claim, while keeping everything properly supported and compliant.

We’ll also help you understand how much tax you’re likely to owe, so you’re not faced with an unexpected bill when January comes around.

No nasty surprises. No last-minute panic. Just clear advice and properly prepared accounts.

What we can take care of

Depending on what you need, our service can include:

  • Sole trader accounts
  • Partnership accounts
  • Self Assessment tax returns
  • Calculation of taxable profit
  • Tax planning and advice
  • HMRC submissions
  • Making Tax Digital support
  • Quarterly MTD updates where required
  • Cloud accounting setup and support
  • Bookkeeping
  • VAT returns where applicable
  • Advice on business expenses and allowable costs
  • Help understanding your tax position
  • Support throughout the year

Why choose Accountancy Solutions?

We’re more than a tax return service

We want to understand your business, not just process your paperwork.

We speak plain English

Accounting and tax can be complicated enough without your accountant making it harder. We’ll explain things clearly and answer your questions without the jargon.

We use technology to make life easier

We’re a cloud-based accountancy practice, so we can help you move away from paper and spreadsheets and towards a simpler, more efficient way of managing your finances.

We help you stay ahead

Keeping your records up to date means you can have a much better understanding of how your business is performing throughout the year, rather than waiting until your tax return is due.

We’re here when you need us

Your business doesn’t stop just because your tax return has been filed. We’re available to provide advice and support throughout the year.

Don’t spend your evenings doing your accounts

Running your own business already takes enough of your time.

You shouldn’t have to spend your evenings trying to understand HMRC rules, wrestling with spreadsheets or worrying about whether you’ve included everything correctly.

Let us take the numbers off your hands.

We’ll make sure your accounts are accurate, your tax return is completed correctly and your important deadlines are taken care of.

Ready to make life easier?

Let’s get your accounts sorted.

Whether you’re a new sole trader, an established business owner or part of a partnership, we’ll work with you to make sure your accounting and tax requirements are taken care of.

You focus on running your business. We’ll focus on keeping your numbers in order.

GET YOUR ACCOUNTS SORTED →


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Keep your financial records accurate and up to date without spending your evenings doing the paperwork.

Find out more about bookkeeping →

Tax Investigation Protection

Tax investigations can be stressful and expensive. Our tax investigation protection can provide additional peace of mind if HMRC comes knocking.

Find out more about Tax Investigation Protection →

Your business. Your numbers. Our expertise.

You don’t need to become an accountant just because you’re running a business.

Let us take care of the numbers, so you can concentrate on doing what you do best.

GET IN TOUCH TODAY →

Speak to a member of the team today

Accountancy Solutions offers complete support, training and advice regarding your business finances with services tailored to meet your requirements. To speak to a member of the team about how we can help you, please get in touch.

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