Coleman and Co provide accounting services for many businesses and even sole traders. Are you aware of what your business needs? Find out right here.
When it comes to running your own business, it is more than common that you will start out as a sole trader. A sole trader is known as someone who runs their business on their own, but who’s to say you can’t get a little guidance with your accounting?
Personal Vs. Business
One of the biggest struggles when starting out your business is distinguishing the difference between personal and business finances. As you control your accounting yourself, it can be hard to professionally differ between the two without the proper procedures to follow and the knowledge on which requirements need to be met on a scheduled basis.
Coleman and Co are able to create a clear line between the two and make sure your business accounts are up to date, reliable and credible. Although the rule is very simple, our team are highly interested in making sure your accounts work for your business to give you the best starting chance possible in such a competitive market.
Cover Yourself and Your Team
By letting our team take control of all elements of your payroll, accounting, taxation and your bookkeeping, we are able to take note of:
- Utility bills
- And More
By recording all of these elements you don’t have to worry about missing anything and you can also make sure that your personal accounts are in order rather than in a mess.
National Insurance and Taxes
Being a sole trader you will also be responsible for your national insurance and taxation requirements which Coleman and Co are on hand to make sure are on time, accurate and suitable for your business. Taking care of income tax, national insurance and your profit margins, you are still able to employ staff members and run your business successfully without over-paying or underpaying.
With many benefits to running your own business, it really pays to maximise your profits with a professional accountant on hand.
Avoid Costly Mistakes
With our team making sure that all deadlines and requirements are met, you are never worried about making mistakes or failing to meet requirements. With close ties to HMRC and the awareness of the proper regulations to follow, you can sit back and relax knowing that our team have got your accounts sorted.
With sole traders powering the UK business market, there are government schemes powering the 200,000 starting up in 2014 with numbers growing every year. Your sole trader business could be the next limited company, what are you waiting for?
Save Valuable Time
Being a sole trader means that a lot of your time is taken up by running your business but this doesn’t have to mean that your accounts can fall short. Without the dedicated time, your accounts could easily fall behind on payments, required deadline dates and taxes. Coleman and Co never let this happen and alert you when payments are due, when tax deadlines are looming and also make sure that you can focus your time and attention on running your business to make it more successful.
Get in Touch
To make sure your business is registered for VAT, covering wages appropriately, paying the right taxes and keeping above board with HMRC, call Coleman and Co today on 028 9266 3599. We take care of various sole trader’s businesses already and can’t wait to work with yours.