Individual

Sole Trader

Sterling Finance offers a complete accountancy solution for sole traders. Although being a sole trader is one of the simplest ways to get started in business, there are many processes that need to be followed to ensure that you are compliant with HMRC. Hiring us as your sole trader accountant guarantees compliance and accurate returns.

Sole Traders have a busy life in managing customers, suppliers, bank, enquiries and just managing the business. Sterling Finance provides peace of mind to all sole traders. Just drop all the paperwork to us and carry on managing your business.

As a Chartered Certified Accountant, we can manage your bookkeeping, payroll, VAT Return, tax, annual accounts and all other processes on your behalf. We will act as your agent, which means HMRC will deal directly with us as your authorised sole trader accountant.

Our Sole Trader clients quickly come to realise that employing a Chartered Accountant is worth it. As well as saving you money, we can work in partnership with you to grow your wealth. We have long-standing relationships with trusted partners and can offer you independent financial advice if you need it – give us a call and we can arrange a meeting at our office or at your preferred location.

Still on the fence? Personal tax legislation changes year by year. It can be a hassle if you don’t keep on top of it, but our individual clients find that having their own Chartered Accountant on call, turns it into an opportunity. You may be paying too much tax – we will help you not only get on top of your financial paperwork, but ensure you are as tax efficient as possible. We’ve simplified the list of services that you may need:.

Traditional Services:

  • Annual Accounts
  • Book-keeping
  • VAT Return
  • Payroll
  • Self-Assessment

Specialist Services:

  • Book-keeping Site Visit
  • Management Accounts
  • HMRC Investigation
  • Business Plan
  • Cash Flow Forecast
  • Tax Saving Planning
  • Partnership or Shareholder’s Agreement
  • Landlord Tenant Agreement

Partnership

Entering a partnership is a relatively simple and flexible way for two or more people to own and run a profit-making business together. It’s also tax efficient, so long as the correct structure is in place. We can assist with this as your partnership accountant.

We’ll create a tax efficient structure for your partnership. Unlike the shareholders in a limited company, the members of a partnership have no financial protection if the business runs into trouble – each partner is responsible for the debts of the partnership as a whole. This means that each partner’s personal assets may be at risk if the business fails.

Disputes between partners can cause difficulties, and the partnership may have to be dissolved if one of its members resigns or dies. It’s possible to resolve these issues in advance by drawing up a deed of partnership. As your partnership accountant, we can do this for you and we’ll take care of the process from start to finish.

It may be a good idea to consult a solicitor so that each partner gets legal advice before finalising their level of responsibility in a deed. The partners are not only responsible for managing the business, but also “jointly and severally” liable for any debts incurred by the business and the profits are shared between the partners based on pre-agreed percentages.

These are the usual questions you might have in relation to Partnerships:

  • How much tax will I pay as a partner?
  • How do I pay National Insurance contributions while I’m operating as a partnership
  • What are my tax deadlines for next year?

We can answer these and many other questions that you may have. You know how to run your business – leave it to the experts to take care of the rest.

Setup a free consultation

Starting a new business or need an accountant to help you organise your affairs?
Call us on 0161 339 4989 to setup a free consultation.

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