At Accounting Wise, you’ll get your own dedicated sole trader accountant, with packages starting from as little as £10 per month. Whether you’re an electrician, plumber, builder, freelancer, beautician, taxi driver, healthcare worker, or even a rocket scientist – we have the right accounting solution for sole traders like you.
While becoming a sole trader is one of the easiest ways to start a business, managing your accounts and staying compliant still requires the right support. That’s where we come in – making accounting for sole traders simple, stress-free, and affordable.
Work with accountants who understand self-employment. Get clear answers, practical help and support with your figures, so you can focus on running your business.
Keep invoices, receipts and payments organised in one place. Share records with your accountant and spend less time chasing paperwork throughout the working week.
Choose accounts, Self Assessment, bookkeeping, VAT or payroll support around your needs. Get clear monthly fees, with services and any extras agreed before starting.
Get unlimited phone and email support within your package. Understand expenses, tax and records, with specialist work scoped separately whenever you need it.
Choose the services your business needs and explore your monthly fee. Start with accounts and Self Assessment, then add bookkeeping, VAT, employee payroll or Making Tax Digital support where appropriate.
Select Sole Trader in the quote builder. Your quote should confirm the returns, software and support included, VAT on our fees and any additional charges.
Customer Reviews
Why small business owners recommend Accounting Wise
★★★★★ 5 out of 5
"Very helpful company and service. The cost is highly competitive and the installments make it a great option for traders looking balance their outgoings. This low cost doesn't impact the quality received. Easy onboarding, very clear systems in place for usage and excellent service when working out yearly tax. All done 6 months before deadlines. Very happy and will continue to have their support"
"Worked with Chris for a few years. He went above and beyond what I would have expected and helped me navigate a few tricky tax situations that saved me a lot of time and money. These guys are definitely worth the price. Great service and availability."
"I moved to Accounting Wise after issues with my previous accountant, Chris and the team have been fantastic since I joined, anything I've needed help with they have been more than accommodating, taking time to explain things I didn't know or hadn't been told, efficient and trustworthy which is exactly what I was looking for"
You’re free to leave whenever you like, we’re just confident you won’t want to. Come and go as you please, no lock-ins and no catch.
Sole trader accounting services that fit how you work
Your business profits feed into your personal tax return, so clear records make a difference. Start with accounts and Self Assessment, then add bookkeeping, VAT, payroll or Making Tax Digital support to suit how you work.
See how your business is performing with accounts prepared from your records. We explain income, expenses and profit, giving you clear figures to review and a reliable foundation for your tax return and business decisions.
We prepare and submit your agreed tax return, including sole trader profits and other income within scope. Review your figures before filing, understand your tax calculation and get clear guidance on the relevant payment dates.
Keep your transactions, receipts and invoices organised with support matched to how you work. Choose software guidance or managed bookkeeping, with service limits agreed upfront, so your records stay clear and useful throughout the year.
Allowable expenses and reliefs
Understand which business costs you can claim and what evidence to keep. We review relevant expenses and reliefs, separate business costs from personal spending and explain how your accounting method affects their treatment for tax.
Get support with VAT registration and returns using compatible accounting software. We explain relevant schemes, record keeping and filing deadlines, with return preparation, registration services and any additional work clearly agreed around your business needs.
Pay your employees with support for payroll calculations, payslips and Real Time Information submissions to HMRC. We agree employee numbers, pay frequency and any pension administration, keeping your personal drawings separate from employee payroll records.
Understand whether Making Tax Digital for Income Tax applies to you and how to prepare. We discuss digital records, compatible software and quarterly updates, with the reporting services and support covered by your package confirmed upfront.
Tax payments and planning
Plan ahead for your Self Assessment bill and payments on account where required. We explain your tax calculation and payment dates, helping you understand what to set aside while managing everyday spending and business cash flow.
Get started with the right business accounting solution today!
Qualified expertise. Clear advice for the self-employed.
Get practical support from sole trader accountants who connect your business records with your personal tax responsibilities. Our fixed-fee packages combine clearly agreed services with straightforward advice on accounts, expenses and Self Assessment. Our accountants hold a range of qualifications from the Association of Accounting Technicians (AAT), Association of Chartered Certified Accountants (ACCA) and the Institute of Chartered Accountants in England and Wales (ICAEW). We are also an Institute of Certified Practising Accountants (ICPA) accredited firm.
Get sole trader accounting support that works for you
The right support for every stage of self-employment
From your first invoice to a growing customer base, your accounting needs change. Get support tailored to how you work, the records you keep and the tax responsibilities that apply to you.
Start with organised records and a clear understanding of your responsibilities. We help you set up bookkeeping, discuss Self Assessment registration and prepare for your first tax return, with practical guidance on business expenses and support agreed around your needs.
Freelancers and independent professionals
Keep your finances clear as clients, projects and income change. We help you track expenses, prepare your accounts and plan for tax payments, with support tailored to how you work and any other personal income included in your agreed service.
Keep your accounting support aligned with rising sales and a growing team. Add bookkeeping, VAT or employee payroll services where needed, with clear service limits and practical discussions about your records, tax responsibilities and whether your business structure still suits you.
Sole traders moving into MTD
Understand your next steps when Making Tax Digital becomes relevant to your business. We discuss qualifying income, digital records and compatible software, then agree the quarterly updates and year-end reporting support you need, with services and fees confirmed before starting.
Move with a clear handover plan for your business records and personal tax return. We can liaise with your previous accountant, review available information and agree outstanding work, with approaching deadlines and any additional costs identified before we begin work.
Overdue records and tax returns
Bring your business records and tax returns up to date with a practical plan. We review available information and outstanding obligations, then agree the work required, likely timescales and a clear quote before helping you take the next steps forward.
Sole trader accounting that understands your work
From tools and materials to client invoices and online sales, your records should reflect how you earn a living. We tailor our accounting support to your working arrangements, business costs and personal tax responsibilities.
Whether you need help recording travel costs, reconciling marketplace payments or organising receipts, we agree services around your business. Relevant specialist work, such as CIS support, can be discussed as part of your quote.
Get started with the right accounting solution today!
Stay Informed: Sole Trader Accounting News & Updates
Stay Connected with Accounting Wise: Your go-to source for the latest updates in sole trader accounting, UK business finance news, regulatory changes, and practical resources tailored to help companies stay compliant and financially healthy.
What is a DUNS number, and does your UK business need one? In this guide, we explain what DUNS numbers are, how to find or apply for one, and whether they're free. We also explore how they're used for business credit, supplier verification and international trading, plus how they differ from Companies House and HMRC reference numbers.
https://a-wise.co.uk/wp-content/uploads/2026/10/Accounting-Wise-what-is-a-DUNS-number.webp4231600Accounting Wisehttps://a-wise.co.uk/wp-content/uploads/2024/11/Accounting-Wise-Logo-Uk-Online-Accountant.webpAccounting Wise2026-10-27 10:26:292026-10-26 10:47:32What is a DUNS Number?
November 2026 has deadlines for VAT, PAYE, CIS, Corporation Tax and Companies House filings, and several land on a weekend. Here are the key UK accounting and tax dates, who they apply to, and how to avoid late penalties.
https://a-wise.co.uk/wp-content/uploads/2026/09/Accounting-Wise-key-UK-accounting-dates-October-2026.webp4231600Accounting Wisehttps://a-wise.co.uk/wp-content/uploads/2024/11/Accounting-Wise-Logo-Uk-Online-Accountant.webpAccounting Wise2026-10-22 12:57:112026-10-22 13:07:17Key UK Accounting Dates November 2026
Statutory declarations are legally binding statements used to confirm important facts. Discover when UK business owners might need one, how the process works, who can witness it and what to consider before signing.
https://a-wise.co.uk/wp-content/uploads/2026/10/Accounting-Wise-understanding-statutory-declarations.webp4231600Accounting Wisehttps://a-wise.co.uk/wp-content/uploads/2024/11/Accounting-Wise-Logo-Uk-Online-Accountant.webpAccounting Wise2026-10-21 09:09:452026-10-19 09:30:06Understanding Statutory Declarations and when they are Required
Essential FAQs for Sole Trader Accounting Services
Below are answers to some of the most common questions we’re asked about sole trader accounting and working with a sole trader accountant.
Accounting Wise sole trader packages start from £10 per month, with 50% off our services for the first 6 months when you sign up to a Pre-Built or Bespoke package. Your fee depends on your transaction volume, income sources and the services you add, such as bookkeeping, VAT or payroll.
See sole trader accounting pricing or build a quote with the package builder on this page. Your quote shows what is included, any limits and VAT on our fees before you start.
Do I need an accountant as a sole trader?
No, an accountant is not a legal requirement, and you remain responsible for your tax obligations. An accountant helps by organising your records, checking which expenses you can claim, preparing your Self Assessment return and explaining what you owe and when.
We agree what we handle and what you provide. Our sole trader accounting packages include a dedicated accountant and unlimited advice.
Do I need to register for Self Assessment as a sole trader?
Yes, if you need to send a tax return and have not done so before. Tell HMRC by 5 October after the end of the tax year in which you started, for example by 5 October 2026 for the 2025 to 2026 tax year. Telling HMRC late can lead to a penalty.
You may not need to register if your self-employed income is within the £1,000 trading allowance, although other income or circumstances can still require a return. We can check your position and register you and file your return.
What tax do sole traders pay?
Sole traders pay Income Tax and Class 4 National Insurance on their business profits, through Self Assessment. For 2026 to 2027 (England, Wales and Northern Ireland), Income Tax is 20% from £12,570 to £50,270, 40% to £125,140 and 45% above. Class 4 is 6% from £12,570 to £50,270 and 2% above.
Class 2 National Insurance is no longer compulsory. It is treated as paid if your profits are £7,105 or more, and you can pay voluntary Class 2 at £3.65 a week if profits are lower. Scotland has different Income Tax bands. See our tax rates and allowances.
What are the key tax deadlines for sole traders?
For the 2025 to 2026 tax year, your online Self Assessment return and tax payment are due by 31 January 2027, or 31 October 2026 on paper. Payments on account, where required, are due on 31 January and 31 July. Register with HMRC by 5 October if you are new to Self Assessment.
Requirement
Deadline (2025 to 2026 tax year)
Register for Self Assessment (new to it)
5 October 2026
Paper Self Assessment return
31 October 2026
Online Self Assessment return and balancing payment
31 January 2027
Payments on account, where required
31 January and 31 July
VAT registration
When VAT taxable turnover goes over £90,000
Making Tax Digital for Income Tax
From 6 April 2026 if qualifying income is over £50,000; from 6 April 2027 over £30,000; from 6 April 2028 over £20,000
A late Self Assessment return is charged a £100 penalty straight away, with further penalties as it stays late. We track the dates that apply to you and send reminders.
Should I stay a sole trader or become a limited company?
It depends on your profits, risk, plans and how much administration you accept. A sole trader is simpler and has fewer filings. A limited company is a separate legal entity with limited liability, pays Corporation Tax and has more filings, and you are taxed on what you take out.
Sole trader
Limited company
Legal status
Not separate from you
Separate legal entity
Liability
You are personally liable for business debts
Normally limited to the company
Tax on profits
Income Tax and Class 4 National Insurance on all profits
Corporation Tax (19% to 25%), then personal tax on salary or dividends
Main filings
Self Assessment return
Company accounts, Company Tax Return, confirmation statement and your personal return
Public record
No Companies House record
Companies House record
Setup
Register for Self Assessment
Register with Companies House and HMRC
Incorporating does not automatically reduce your tax bill. We can compare both for your profits through our limited company accounting service.
Which business expenses can sole traders claim?
Sole traders can claim costs incurred wholly and exclusively for the business, such as materials, software, insurance and business travel. Expenses with both business and personal use need an appropriate allocation, and personal costs cannot be claimed.
Keep receipts and records for every claim. Your profit for tax is your income minus allowable expenses. Our bookkeeping service keeps them organised.
What are simplified expenses, and what is the cash basis?
Simplified expenses let sole traders use flat rates for some costs instead of actual costs. They apply to business vehicles, working from home and living at your business premises. Limited companies cannot use them, and you can choose not to use them.
Under the cash basis, which is the default from the 2024 to 2025 tax year, you record income and expenses when money changes hands. You can opt out to use traditional accounting, which records them by invoice or bill date. We help you choose the method that suits your business.
Does Making Tax Digital apply to sole traders?
Yes, if your qualifying income is over the threshold. Making Tax Digital for Income Tax began on 6 April 2026 for sole traders and landlords with qualifying income over £50,000, and extends to income over £30,000 from 6 April 2027 and over £20,000 from 6 April 2028.
Qualifying income is your trading and property income chargeable to Income Tax, and it is measured before expenses rather than as profit. You will need digital records and compatible software. See our Making Tax Digital hub.
Do sole traders need to register for VAT?
You must register for VAT when your VAT taxable turnover goes over £90,000, and this is based on turnover rather than profit. Below that, registration is optional, which can help if your customers are VAT-registered and can reclaim it.
Check your turnover regularly, because the threshold applies on a rolling basis. We can handle VAT registration and returns using compatible software.
Can you help if I am behind with my accounts or switching accountants?
Yes. Tell us which years are outstanding and what records you have. We review them, then agree the work, timescales and fees upfront. Overdue returns and historic corrections may need a separate scope from routine accounting.
If you are moving from another firm, we can contact them, request your records and arrange HMRC authorisations through our switching accountants process. Tell us early about any HMRC notices or approaching deadlines.
Switching Sole Trader Accountants Is Simple
1 Choose Your Package
Build your sole trader quote. Choose accounts, Self Assessment and any bookkeeping, VAT or Making Tax Digital support you need, with your monthly fee and service limits confirmed upfront.
2 Confirm Your Details
Sign up online or speak to our team. We’ll confirm your business details, relevant personal income and agreed services, then explain the records we need and arrange a start date that works for you.
3 We Arrange the Handover
We can contact your previous accountant, request relevant records and arrange HMRC authorisations. We’ll agree who completes outstanding returns and identify approaching deadlines, so you know what happens next and what you need to provide.
We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.
Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.
Essential Website Cookies
These cookies are strictly necessary to provide you with services available through our website and to use some of its features.
Because these cookies are strictly necessary to deliver the website, refusing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.
We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.
We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.
Other external services
We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.
Google Webfont Settings:
Google Map Settings:
Google reCaptcha Settings:
Vimeo and Youtube video embeds:
Privacy Policy
You can read about our cookies and privacy settings in detail on our Privacy Policy Page.
