ACCOUNTANTS FOR SELF-EMPLOYED

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Our business monthly accounting service is for self-employed professionals, freelancers (aka sole trader businesses) and high net worth individuals that need to register and send a tax return to HMRC. We take care of your bookkeeping, prepare your annual accounts, and file your Self Assessment tax return.

ACCOUNTANTS FOR SELF-EMPLOYED & FREELANCERS

The following accounting services are included in our Business Package:

• Dedicated accountant for Business: All of our monthly accounting packages come with a dedicated accountant to make sure we provide the best-in-class service to our clients.

• Xero Ledger/Starter for Business: Keeping your business records on Xero Ledger or Starter. Xero Ledger is a simplified version of Xero’s standard accounting software. Xero Starter covers the essentials, including bank feeds, invoicing (up to 20 invoices and 5 bills), payments, VAT, budgeting, etc.

• Register for Self Assessment/Set up as sole trader: Registering you as a sole trader with HMRC. You will pay tax through Self Assessment and you will need to file a tax return every year. Being in business on your own and registering as a sole trader (sole proprietor) is the most common way to start a business in the UK. If you are a sole trader (self-employed), you run your own business as an individual and you can keep all your profits after you have paid tax on them. In the meantime, you are personally responsible for any losses your business makes.

• Bookkeeping (30 minutes) for Business: Taking care of your bookkeeping (up to 30 minutes per month). Maintaining proper records enables you to manage your business and provides an audit trail for tax purposes. By law you are required to keep records of all business income and expenditure for at least 5 years from the 31 January submission deadline of the relevant tax year. 

• Annual accounts for Business: Producing your annual accounts (year-end accounts, financial statements), i.e. Profit & Loss and Balance Sheet (if required).

• Self Assessment tax return for Business: Preparing and submitting your Self Assessment tax return (online).

Our packages can be tailored to suit your requirements. We are happy to answer any questions you may have about the business package. Xcountant® | Small business accountants are a London based accounting firm helping business owners save time and money while complying with rules and regulations.