Sole Trader Accounts · Wales
Sole trader accounts in Cwm Prysor
Self-employed people in Cwm Prysor need two things at year end: a reliable profit figure and a tax return that matches it. We prepare the accounts, review every expense for what is allowable, and either hand the figures over or file the return as part of the £229 bundle. Fixed fees, agreed in writing, no office visit required.
from £149 · fixed, per year
Next deadlines
- Online Self Assessment filing deadline and balancing payment due
- Tax year ends: last day for pension, ISA and dividend timing decisions
- Making Tax Digital for Income Tax: quarterly updates for sole traders and landlords over £50,000 (from April 2026) and over £30,000 (from April 2027)
- Second payment on account due
Who this is for
Sole Trader Accounts for Cwm Prysor
Self-employed people in Cwm Prysor trading in their own name: tradespeople, drivers and couriers, hairdressers and beauticians, consultants, creatives, market traders, therapists, tutors and anyone else running a business without a limited company, from a first-year side business to an established trade with a van, equipment and a few thousand transactions a year.
What is included
Everything inside the fixed fee
- Income and expenditure account for the tax year or your accounting period, with a balance sheet where you want one
- Every expense category reviewed for what is allowable, including home working, vehicles and the trading allowance
- Capital allowances on equipment and vehicles, with the cash basis or accruals basis chosen to suit you
- A plain-English summary: profit, tax and National Insurance due, payments on account and what to put aside
- Figures prepared in the format the Self Assessment self-employment pages need
- Records organised and stored so that an HMRC check can be answered quickly
How it works
Sole Trader Accounts from Cwm Prysor, step by step
Scope the job
We find out what you need filed, when it is due and what state the records are in, and tell you which fixed-fee package applies.
Agree the price
The fee is confirmed in writing. There is no hourly billing and nothing added for questions during the work.
Hand over the records
Photographs, PDFs, software access or a spreadsheet, sent however suits you. We confirm what we have and what is missing within two working days.
Approve, then we submit
You review the draft with our explanation, sign off, and we file. Receipts, copies and the next deadlines come back to you immediately.
Why IGI
The IGI way of working, in Cwm Prysor
The price for sole trader accounts is published on this page and is what a client in Cwm Prysor pays. We confirm it in writing first, and the invoice matches the quote.
Nothing for Cwm Prysor is left to the last week. Each deadline relevant to sole trader accounts is tracked from the day you join, with the next four shown on every page we send you.
No appointments, no travel across Wales, no parking. Everything for sole trader accounts in Cwm Prysor happens online, with a real person on the other end during UK working hours.
A named person handles your sole trader accounts from Cwm Prysor and knows the file, so you are not re-explaining your business to a different helpdesk each time.
Plain English, with the numbers. Every draft for Cwm Prysor comes with a short explanation of what the figures mean and what, if anything, you should do about them.
Approval before filing is a rule, not a courtesy. For sole trader accounts in Cwm Prysor, every submission to HMRC or Companies House follows your written go-ahead.
Local facts
About Cwm Prysor
Cwm Prysor is in Wales, Wales. Businesses in Wales file with the same HMRC and Companies House as England, and for now the Welsh rates of income tax equal the English ones, though the Senedd can vary them. The practical differences are Land Transaction Tax on property and Welsh-specific business support schemes, and company names and documents may be in Welsh.
| Place | Distance | Direction |
|---|---|---|
| Fron-oleu | 2 mi | W |
| Trawsfynydd | 2 mi | W |
| Defeidiog-ganol | 3 mi | SE |
| Bronaber | 3 mi | SW |
| Pantllwyd | 4 mi | NW |
| Llan Ffestiniog | 4 mi | NW |
| Gellilydan | 4 mi | NW |
| Bryn Eden | 5 mi | S |
Worth knowing
Rules that come up in this work
The 60-day property CGT return
Selling UK residential property that was not your main home for the whole period of ownership triggers a separate Capital Gains Tax return, due within 60 days of completion along with payment of the tax. This is in addition to the annual Self Assessment. The gain is taxed at 18% or 24% depending on your income band, after the £3,000 annual exempt amount.
Crypto records and reporting
Most crypto holders have taxable events they do not recognise, because every swap is a disposal even when no pounds change hands. The computation requires the complete transaction history from every exchange and wallet, pooled by asset with HMRC's matching rules applied. Exchange-generated tax reports are frequently wrong because they cannot see transfers between a user's own wallets.
Allowable expenses
Expense claims are where a return is won or lost in an enquiry. The test is wholly and exclusively for the trade; where a cost is mixed, the business proportion can be claimed if it can be identified. Capital items such as equipment and vans are relieved through capital allowances rather than as expenses, except under the cash basis where they are simply deducted when paid.
Record keeping
Good records are the difference between a quick enquiry and a long one. For the self-employed, five years after the filing deadline; for companies, six years from the year end; for VAT, six years. Photographs of receipts, PDF statements and software exports all count. The requirement is to keep records, not paper, and a well-organised cloud folder satisfies it.
Workplace pensions and auto-enrolment
Auto-enrolment duties begin the day you take on your first employee, not when the Pensions Regulator writes to you. Eligible staff must be enrolled, contributions paid every pay period and re-enrolment carried out every three years. Director-only companies without employment contracts are usually exempt. Fines for non-compliance are fixed and escalating.
Employer National Insurance
Since April 2025 employer National Insurance has been 15% on earnings above a £5,000 secondary threshold, a substantial increase for small employers. The Employment Allowance rose to £10,500 at the same time to soften it for the smallest businesses. Directors deciding their own salary weigh this cost against the Corporation Tax deduction a salary provides.
The trading and property allowances
The first £1,000 of trading income and, separately, the first £1,000 of property income each year is tax free under the trading and property allowances. Below those figures no return is needed for that income. Above them you can deduct the £1,000 allowance instead of actual expenses if that is better, which suits side businesses and single-room lets with few costs.
Questions
Sole Trader Accounts questions from Cwm Prysor
What records do I have to keep?
Records of all sales and takings, all purchases and expenses, and bank statements, for at least five years after the 31 January filing deadline of the relevant tax year. Digital copies are acceptable. Under Making Tax Digital the records must be kept in compatible software from your start date.
When does Making Tax Digital apply to me?
From April 2026 if your combined self-employment and property income was over £50,000 in 2024/25; from April 2027 if over £30,000; and planned for April 2028 if over £20,000. It means digital records and quarterly updates to HMRC. Our bookkeeping service handles it, and we tell you your start date as part of the accounts work.
What National Insurance do sole traders pay?
Class 4 at 6% on profits between £12,570 and £50,270 and 2% above that, collected through Self Assessment. Class 2 is no longer compulsory; profits above £7,105 earn National Insurance credits automatically, and below that you can pay Class 2 voluntarily at £3.65 a week to protect your State Pension record.
How are vehicles treated?
You can claim actual running costs with a business-use percentage plus capital allowances on the vehicle, or HMRC's simplified mileage rate of 45p a mile for the first 10,000 business miles and 25p after that. Once you choose a method for a vehicle you keep it. We compare both for your mileage and show the difference.
What can I claim for working from home?
Either a proportion of actual household costs based on rooms and hours, or HMRC's simplified flat rate of £10 to £26 a month depending on hours worked at home. We calculate both and claim the higher. Mortgage interest, rent, council tax, utilities and insurance can all form part of the actual-cost method.
Cash basis or accruals: which should I use?
Since April 2024 the cash basis is the default for sole traders and has no turnover limit; you record income when received and expenses when paid. Accruals matches income and costs to the period they relate to and suits businesses with stock, large debtors or losses to carry. We recommend one based on your figures and explain why.
How do I get started from Cwm Prysor?
Message us on WhatsApp or email with a sentence about your business and what you need. We reply in working hours with any questions and a fixed fee for sole trader accounts. Once you confirm, we tell you exactly which records to send and the work begins. Most Cwm Prysor clients are set up within a day.
Which deadlines matter most for sole trader accounts?
The next four dates that apply to sole trader accounts are shown at the top of this page, calculated from today. For Cwm Prysor clients we diarise every one of them from the day you join and send reminders before each, so the work is done in good time rather than in the last week before a penalty.
Get a fixed quote for Cwm Prysor today
Tell us what you need. You get one fixed fee in writing, and nothing is filed until you approve it.