Sole Traders

If you are a sole trader, you run your own business as an individual and are self-employed. You are required to registered yourself with HM Revenue and Customs (HMRC) and file a self assessment tax return every year. We are specialist sole trader tax return accountants in London and Surrey providing self assessment tax return services to individuals all over the UK. At Martax, our team of tax professionals can help you to register your business with HMRC and prepare your self assessment tax return every year. Sole trader is one of the simplest way to get started into business. However, Being a sole trader, you have certain responsibilities such as:

  • Keep records of your business’s sales and expenses for at least 5 years after the 31 January submission deadline of the relevant tax year
  • Send a self-assessment tax return every year by 31 January
  • Pay income tax on your profits and Class 2 and Class 4 National Insurance

At Martax, we can help you to:

  • Your own dedicated accountant
  • Access to our cloud based accounting software for creating invoices and for
    recording expenses
  • Preparation of your sole trader accounts
  • Calculate your taxable profits on your business
  • Advise on claiming all the legitimate expenses to optimize tax savings
  • On-going help and advice via email or phone
  • Reminders for all the important deadlines
  • Advise on claiming all the legitimate expenses to optimize tax savings
  • Complete your tax return using HMRC approved software
  • Advise you on the tax to be payable to HMRC and when they are due.

For more information and to arrange a free consultation, please contact us on 020 8330 3167 or email us at

Get in touch with us to arrange for a meeting to see how we can help you