Sole Trader Accounts · East Midlands
Sole trader accounts in Stock's Hill
Self-employed people in Stock's Hill 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 Stock's Hill
Self-employed people in Stock's Hill 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 Stock's Hill, 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 Stock's Hill
No hourly rate and no surprise invoice. Stock's Hill clients know the fee for sole trader accounts before they send a single document, and it stays fixed.
We work to the HMRC and Companies House calendar, not an appointment diary. Clients in Stock's Hill get reminders at 60, 30 and 7 days before each date that applies to sole trader accounts.
Online only, UK based. There is no office in Stock's Hill to pay for, which is why the fee is the same here as anywhere in England; the work is done by people in the UK who answer the same day.
You get one contact for sole trader accounts, not a queue. Stock's Hill clients message the same person throughout and get an answer in working hours, usually within a few hours.
We explain sole trader accounts in the words Stock's Hill business owners use, not in accountant's shorthand, and we show our working so you can check it.
You stay in control of sole trader accounts: drafts go to Stock's Hill clients first, with the figures explained, and nothing leaves us until you say so.
Local facts
About Stock's Hill
Stock's Hill is in East Midlands, England. For businesses in England the tax rules are those set by the UK Parliament: the 20/40/45% income tax bands, Class 4 National Insurance for the self-employed at 6% and 2%, Corporation Tax at 19% to 25%, and Stamp Duty Land Tax on property. Business rates are set locally by the council.
| Place | Distance | Direction |
|---|---|---|
| Sledge Hill | 0.1 mi | N |
| Kiln Hill, East Lindsey | 0.2 mi | NW |
| Ludford | 0.3 mi | SW |
| Gally Hill Farm | 0.7 mi | SW |
| Wykeham Hall | 2 mi | SE |
| Girsby | 2 mi | SE |
| Great Tows | 2 mi | NE |
| Tows, Great | 2 mi | NE |
Worth knowing
Rules that come up in this work
CIS deductions
The Construction Industry Scheme affects both sides of a construction payment. Contractors must verify subcontractors, deduct the right amount, issue statements and file monthly, with penalties from £100 for each late return. Subcontractors suffer deductions on turnover and recover the excess at the year end. Limited company subcontractors offset deductions against PAYE monthly instead.
Confirmation statements and identity verification
The confirmation statement is the annual check that the public register is right: officers, registered office, SIC codes, shareholders and the PSC register. It carries a £50 fee and no financial penalty for lateness, but failure to file leads to compulsory strike-off. The identity verification regime introduced in November 2025 has added a further check to every statement.
Corporation Tax rates and marginal relief
Companies pay Corporation Tax at 19% on profits up to £50,000 and 25% on profits over £250,000. Between those figures marginal relief applies, producing an effective rate that rises gradually and a marginal rate of 26.5% on each pound in the band. The thresholds are divided by the number of associated companies, so a director with two companies has thresholds of £25,000 and £125,000 for each.
The VAT registration threshold
Watching the rolling twelve-month turnover figure is one of the quiet jobs of monthly bookkeeping, because the £90,000 VAT threshold arrives silently. Crossing it brings quarterly returns, Making Tax Digital software and a decision about schemes. Crossing it late brings a bill for VAT you could not recover from customers and a penalty for failing to notify.
Director's loan accounts
Money taken from a company has to be something: salary, dividend, expense reimbursement or loan. If it is a loan and remains outstanding nine months after the year end, the company pays tax at the dividend higher rate on it until it is repaid. Clearing the balance with a properly declared dividend before the deadline, where reserves allow, is routine year-end work.
Salary versus dividends
The salary-and-dividend split is the central planning decision for an owner-managed company. Salary costs employer National Insurance above £5,000 but is deductible; dividends are not deductible but attract lower personal rates and no National Insurance. The optimum changes each April with the thresholds and depends on the director's other income, so it should be set deliberately every year.
Payments on account
Payments on account catch out most people in their second year of self-employment. HMRC assumes next year's tax will match this year's and collects half in January and half in July, in advance, on top of the balancing payment. If profits are dropping you can apply to reduce them, but reducing them too far attracts interest. We calculate the right figure rather than guessing.
Questions
Sole Trader Accounts questions from Stock's Hill
Can you deal with my previous accountant?
Yes. Once you authorise us we write for professional clearance and your records, including the previous year's accounts and capital allowance pools, which we need for continuity. Most firms respond within two weeks and nothing about switching changes our fee.
What if HMRC checks my return?
HMRC can enquire into a return within twelve months of filing, and longer if something was omitted. Well-prepared accounts with organised records are the best protection. If an enquiry opens, routine correspondence about a return we filed is handled free, and formal enquiries go through our fixed-fee investigation service.
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.
Do I need accounts as well as a tax return?
HMRC requires a profit figure on the self-employment pages, and the accounts are how that figure is produced and supported. Very small businesses can complete the three-line account on the return, but once turnover is meaningful, proper accounts protect you in an enquiry and show you how the business is actually doing. The £229 bundle includes both.
What is the difference between the £149 and £249 fees?
The £149 fee applies when your records are already organised: bookkeeping software, a spreadsheet that reconciles to the bank, or our own monthly bookkeeping. The £249 fee covers rebuilding the year from bank statements and loose receipts. We look at what you have before quoting so the fee is fixed from the start.
How do I get started from Stock's Hill?
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 Stock's Hill 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 Stock's Hill 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.
Fixed fees, filed on time, for Stock's Hill
Tell us what you need. You get one fixed fee in writing, and nothing is filed until you approve it.