Who We Help
Sole Traders
Avoid the stress of managing your tax, finances and future growth alone.
There are many advantages to operating as a sole trader, though it’s easy to be overwhelmed by the number of hats you have to wear – marketing, HR, finance, and more. Our accountants for sole traders are here to help shoulder the burden. We free up your time so you can focus on cultivating and growing your business.
Accounting for Sole Traders
How can we help?
Bookkeeping
Accurate and timely bookkeeping is essential for every sole trader. We offer a range of bookkeeping services tailored to meet your needs and ease the burden of administration.
Tax planning
Our team of tax experts stay up to date with the latest laws to ensure you are well informed. Our experts can discuss any tax planning opportunities with you to ensure maximum efficiencies.
Self-Assessment
Self-assessment can be a daunting prospect and mistakes can lead to significant penalties and financial costs. We can advise on potential efficiencies throughout the filing process, timeline tax submission, and payment obligations.
Managing expenses
Sole traders often fail to take advantage of the full range of tax-deductible business expenses available to them. We take a comprehensive view of your business to develop strategies to minimise your tax bill wherever possible.
Budgeting and forecasting
Many sole traders are too busy focusing on day-to-day tasks to take a step back and develop a long-term financial plan. Our advisers can help you create a clear plan for business growth and forecast various scenarios to get there.
Ad-hoc business advice
It’s invaluable to be able to call on the support of an experienced business adviser whenever an idea, query or challenge crops up, especially for those who tend to work alone.
Get in touch
Partnering with an accountant is a crucial step in the growth of every ambitious business; however, you need to make sure you’ve got the right professional by your side to help achieve your goals.
Our advisers support sole traders across a wide range of sectors and industries, putting us in the ideal position to offer guidance on all aspects of your business.
We’d be happy to arrange a free initial session with you. Simply fill in the enquiry form or call us on the number below.
Call us
+44 (0)20 7299 1400Get in touch
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Why Gerald Edelman?
Working for yourself is an immensely rewarding experience that comes with a unique set of challenges.
Knowing which areas of expertise to delegate is vital to maximise your growth potential, particularly for those with little to no experience in handling financial matters, whether that’s compliance or strategic.
Sole traders today are under more scrutiny from HMRC than ever, and it can be a tough task to stay on the pulse of evolving tax and compliance regulations. Those that make mistakes or fail to take care of finances, accounts, expenses and reporting requirements run the risk of under/overpaying tax, facing unexpected penalties or even investigation.
At Gerald Edelman, we work closely with sole traders and can provide you with complete peace of mind that your finances are being managed by an expert. As well as providing partial and fully managed accountancy and bookkeeping services, we act as a sounding board for any queries or challenges you wish to discuss throughout the financial year.
Frequently asked questions
Is it possible to pick the specific accountancy services I need?
Yes. Whilst we often manage tax and reporting obligations, we also work with sole traders that only require support with specific aspects of our service, like bookkeeping, IR35 or VAT. We are flexible in that regard and can tailor our services to match your needs.
Can Gerald Edelman support my business beyond tax compliance and bookkeeping?
Yes, clients often stay with us because they like the convenience of being able to plug into different services that we offer. Beyond tax advice, we also regularly support sole traders with wider financial planning and investment advice.
How do your fees typically work?
Unlike other accountants, we offer complete transparency over our fees from the outset. We always aim to fix our costs based on the services required and the information we receive from our clients during a free consultation.