Michael Sohor & Co is now known as Tamen Accountants. This is a name change only - we are the same dedicated team, and look forward to serving our valued clients for many years to come.
If you’re a sole trader, you need to submit annual self-assessment tax returns. Our team can guide and assist you on the best bookkeeping practices throughout the year, to prepare you for a stress-free tax return.
We understand that the thought of having to submit a tax return can be very daunting to a sole trader. Leave the form filling in our capable hands and get on with doing what you do best – running your business. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay, making sure you avoid any penalties for late filing or errors.
We have an established team with many years’ combined experience.
We are always available on the phone and via email, there are no queries we can’t handle.
We can save you money while providing an excellent service at an excellent price.
Is it better to be a sole trader or a limited company?
Generally, there is a tax advantage for businesses operating though a limited company because the rate of Corporation Tax paid by companies is lower than the rate of Income Tax and National Insurance paid by sole traders. However, a limited company comes with various complications which means this option not right for everybody. Our advice will be tailored to your individual situation.
Can I claim expenses for working from home?
Yes, you can. The simplest method is to use the HMRC approved rate of £6 per week which is £312 per year. If you want to claim more than that, then you need to work out the actual proportion of your expenses which relate to business use. That means you must work out the proportion of your own home which is devoted to offic...read more
Can a self-employed person get a mortgage?
You can get a mortgage as a self-employed person, but you will need to provide extra information to the lender compared to a salaried employee. Please note that director shareholders with a 20% or more shareholding are generally treated as “self employed” for mortgage purposes, even if they operate through a limited company as an employee. read more
...read more frequently asked questions for sole traders/ self assessment
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Self-assessments can be confusing, especially if you have multiple sources of income. Get in touch with our team and see how we can take the stress and strain away without breaking the bank.