Sole Trader Accountants
Straightforward accounting, tax and Making Tax Digital support for Sole Traders
Running your own business should mean spending your time looking after customers and growing your income — not worrying about bookkeeping, tax returns and HMRC deadlines.
Mysimplytax provides complete accounting support for Sole Traders, helping you keep your financial records organised, understand your tax position and meet your ongoing Self Assessment and Making Tax Digital requirements.
From Sage accounting software and digital bookkeeping through to allowable expenses, Self Assessment, tax calculations and quarterly HMRC updates where required, our fixed-fee service brings your core accounting needs together with ongoing support throughout the year.
With offices in Bromley and London and a fully digital accounting service, we support Sole Traders locally and throughout the UK.
What's included in our Sole Trader accounting service?
Our Sole Trader accounting service brings together the bookkeeping, tax and Making Tax Digital support you need to keep your records organised and meet your ongoing HMRC obligations, with straightforward fixed fees and access to our team throughout the year.
Self Assessment
Preparation and submission of your annual Self Assessment tax return, including your Sole Trader business income and allowable expenses.
Digital Bookkeeping
Ongoing bookkeeping support to help keep your business income, expenses and accounting records organised throughout the year.
Sage Accounting Software
Sage cloud accounting software to manage invoicing, expenses and digital records while giving our team ongoing visibility of your bookkeeping.
Allowable Expenses
Review of your business expenses to help ensure relevant allowable costs are correctly reflected when calculating your taxable business profit.
Making Tax Digital
Making Tax Digital support where required, including digital records, Sage accounting software and ongoing MTD compliance.
Quarterly HMRC Updates
Preparation and submission of your Making Tax Digital quarterly updates where you are required to use MTD for Income Tax.
Tax Calculations
Clear calculations showing your Income Tax and National Insurance position together with guidance on relevant HMRC payment deadlines.
Ongoing Accountant Support
Access to our team throughout the year for help with your bookkeeping, tax and ongoing accounting requirements.
Sage Accounting Software for Sole Traders
Keeping accurate, up-to-date records makes managing your Sole Trader accounts and tax much easier.
Our Sole Trader accounting service can include Sage cloud accounting software, giving you a straightforward way to create invoices, record expenses and maintain your digital business records throughout the year.
Where appropriate, Sage can connect to your business bank account so transactions feed into the software, helping our bookkeeping team reconcile your records and keep your accounts organised.
For Sole Traders required to use Making Tax Digital for Income Tax, Sage can also form part of the digital record-keeping and quarterly HMRC reporting process.
Dedicated bookkeeping support
You don't need to become a bookkeeper just because you're self-employed.
Our bookkeeping support helps organise your business transactions, maintain your accounting records and keep your Sage data up to date throughout the year, reducing the amount of financial administration you need to manage yourself.
Why choose Mysimplytax as your Sole Trader accountant?
Being self-employed doesn't mean you need to manage your bookkeeping and tax alone. Our Sole Trader accounting service combines digital accounting, bookkeeping and ongoing tax support to help keep your business finances organised throughout the year.
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Fixed monthly fees
Clear, straightforward pricing helps you understand what your accounting support will cost and what's included in your service.
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Dedicated bookkeeping support
Ongoing bookkeeping helps keep your income and expenses organised rather than leaving everything until your Self Assessment deadline.
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Sage cloud accounting
Manage invoices, expenses and digital records using Sage while giving our team ongoing visibility of your bookkeeping.
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Year-round accountant support
Get help with your accounting and tax throughout the year rather than only speaking to an accountant when your tax return is due.
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Making Tax Digital ready
If MTD for Income Tax applies to you, we can provide the software, bookkeeping and quarterly HMRC reporting support you need.
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Bromley & London
With offices in Bromley and London and a fully digital service, we support Sole Traders locally and throughout the UK.
Looking to switch accountants?
Changing accountants is normally straightforward.
Once you decide to move to Mysimplytax, we can contact your existing accountant to arrange professional clearance and obtain the information needed to transfer your tax and accounting affairs.
We'll then help set up your Mysimplytax service, including Sage and bookkeeping support where applicable, so you can continue managing your business while we take care of the transition.
Newly self-employed?
If you've recently started working for yourself, getting your accounting and tax setup right from the beginning can make running your business much easier.
As a Sole Trader, you'll need to keep appropriate records of your business income and expenses and understand your Self Assessment obligations. Depending on your circumstances and income, Making Tax Digital for Income Tax may also apply to you.
Mysimplytax can help you get your bookkeeping organised, set up Sage accounting software, understand which business expenses may be allowable and manage your ongoing tax and reporting requirements.
Getting your Sole Trader accounts set up
✓ Self Assessment registration guidance
✓ Sage cloud accounting setup
✓ Business bank feed setup where appropriate
✓ Digital bookkeeping
✓ Recording business income and expenses
✓ Allowable expense guidance
✓ Making Tax Digital preparation
✓ Ongoing tax and accounting support
Should I be a Sole Trader or Limited Company?
The best business structure depends on your individual circumstances rather than there being one option that is always better.
Factors such as your expected profits, how you intend to take money from the business, administrative requirements, future plans and wider tax position can all influence whether remaining a Sole Trader or operating through a Limited Company may be appropriate.
If your business is growing and you're considering incorporation, we can help you understand the accounting and tax differences before you make the change.
Self Assessment for Sole Traders
As a Sole Trader, your business income and allowable expenses form part of your Self Assessment tax return and are used to calculate your taxable business profit.
Mysimplytax can prepare and submit your Self Assessment tax return, review your business income and expenses and provide a clear calculation of the Income Tax and National Insurance due.
Keeping your bookkeeping organised throughout the year also means your tax return doesn't need to become a last-minute exercise, while giving you better visibility over how your business and tax position are developing.
What expenses can a Sole Trader claim?
Sole Traders can generally deduct qualifying business expenses when calculating taxable profits, provided the costs meet the relevant tax rules.
Depending on your business, allowable expenses may include costs such as office expenses, business travel, certain professional fees, advertising, insurance and other expenses incurred for your business.
The rules can vary depending on the type of expense and how it is used, so our bookkeeping and tax return process helps identify and correctly record relevant business costs rather than simply assuming every payment is tax deductible.
Making Tax Digital for Sole Traders
Making Tax Digital for Income Tax is changing how qualifying Sole Traders keep their business records and provide information to HMRC.
If MTD applies to you, you'll need to maintain digital records using compatible software, keep your bookkeeping up to date and send quarterly updates of your business income and expenses to HMRC.
Mysimplytax can provide the Sage accounting software, digital bookkeeping and ongoing quarterly reporting support needed to manage your MTD requirements, together with your annual Self Assessment tax return.
This gives you one ongoing accounting service rather than having to manage your bookkeeping, MTD software, quarterly HMRC updates and annual tax return separately.
Digital records
Bookkeeping
Quarterly updates
Maintain your Sole Trader income and expense records digitally using MTD-compatible accounting software.
Keep your business transactions organised and your accounting records up to date throughout the year.
Submit the required summaries of your business income and expenses to HMRC through compatible software.
Tax return
Finalise your annual tax information and submit your Self Assessment tax return using compatible software.
When do Sole Traders need to use MTD?
Making Tax Digital for Income Tax is being introduced in stages based on qualifying gross income from self-employment and property.
Those with qualifying income over £50,000 entered MTD from April 2026, followed by those over £30,000 from April 2027 and those over £20,000 from April 2028.
If you're unsure when the rules apply to you, we can help you check your qualifying income and understand what you need to do next.
Sole Trader Accountants in Bromley & London
With offices in Bromley and London, Mysimplytax provides accounting and tax support to Sole Traders locally and throughout the UK.
Our digital approach combines Sage accounting software, bookkeeping, Self Assessment and Making Tax Digital support, while our Bromley and London locations provide a local presence for self-employed businesses across both areas.
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Sole Trader FAQs
Looking for a Sole Trader accountant?
Whether you're newly self-employed, looking to switch accountants or want ongoing help with bookkeeping, Self Assessment or Making Tax Digital, speak to Mysimplytax about how we can support your business.
Our fixed-fee Sole Trader accounting service combines Sage accounting software, bookkeeping, tax and ongoing accountant support throughout the year.
Based in Bromley and London, supporting Sole Traders throughout the UK.
