Sole trader tax return – in Croydon
£180.00
Adiva Accountants offer a quality and competitive tax returns and accounts service for self employed, sole trader and partnerships. Whether you are self employed, sole trader or partner in a partnership, we will prepare your tax return and accounts in a timely and efficient way.
Required records
- records of your sales and purchases
- bank transactions and certificates
- dividend vouchers
- P60s, P11Ds, P45s or other relevant documents
Description
We offer a professional and competitive tax return service for self employed and sole trader (https://adivaaccountants.co.uk/service/self-employed-partnership/) in Bromley, London, Kent and nationwide فياجرا جيل. We will charge a little more, if we need to carry out your bookkeeping, to prepare your accounts or if you have other sources of income. Capital gains computations are charged very competitively too. Tax planning is included in the sole trader service at no extra cost. We will help you claim all the available tax reliefs and to pay the minimum amount of tax required by law. We can advise you in all areas of taxation, such as Income tax, CIS, Inheritance tax, Property income, Business tax, National Insurance, and many more.
Accruals basis and Cash basis – Sole trader and self employed
When using the accruals basis, the credit sales are included in the income. But, when using the cash basis, the sole trader income includes only the cash receipts received during the accounting period. So, under the cash basis credit sales are accounted for and taxed not when raised, but in the year in which they are paid for by the customer. The most important criteria to use the cash basis are that your business is unincorporated (sole trader or a partnership). And that your receipts in the accounting period are less than the VAT registration threshold at the end of the relevant tax year.
The loss relief
Under the cash basis, if your business incurs a loss, this can only be carried forward and set against profits of the same business in future years. This is a restriction on the normal rules for accrual basis, which will allow the loss to be carried back or set off ‘sideways’ against other income. On entering or leaving the cash basis, special calculations are needed. This is to ensure that the income is taxed and expenses are relieved ‘once and once only’.
Contact us
If you are sole trader in Croydon, Bromley, Kent, London and nationwide we can help and advice in the most appropriate option for your business. Please contact Adiva Accountants in Croydon on 020 8313 9117, or email at contact@adivaaccountants.co.uk and we will be happy to help.
Natalie, Canary Wharf –
I would like to take this opportunity to thank you and all your colleagues who have, over many years, provided us with an excellent service. Without your hard work, and advice we would not have been able to respond so easily to HMRC’s requests.
Maurice, New Eltham –
I have been with Adiva Accountants for quite a few years and I would like to say a big thank you to you and all the staff. That is for making my life easy, by not having to worry anymore about my sole trader tax returns and accounts.