Sole Traders

If you are a sole trader, you run your own business as an individual and are self-employed. 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:

  • Calculate your taxable profits on your business
  • 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.

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