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A Comprehensive Sole Trader Accountancy Service

Embrace Sole Trading with all of the support you need

Are you a small business owner? Struggling to keep up with your accounting amidst other business chaos? RR Accountants’s affordable sole trader pro package is solely for businesses like yours. The package starts at just £12.75/month. Is it more expensive than your peace of mind?
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From just

£25.50

+ VAT per month

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What is a Sole Trader

Being a Sole Trader is the perfect starting point in setting up a business. It is simply the term to describe the running a business as a single operator or with a team, but without any legal framework around the business.
Ease of set up
There is a simplistic three-step process to start out as a Sole Trader in the UK.
Let HMRC know that you are self-employed
Register for Self Assessment as a Sole Trader
Pick a business name
Then you are effectively free to start trading immediately, and there is no need to register with Companies House.
Less administration
As a Sole Trader you have to keep accurate records of sales and expenses. Operating in this manner is simple because you are only submitting a Self Assessment (and maybe a VAT return).
Fewer costs
You do not need to employ the services of a solicitor nor company formation agent. If you choose to use an accountant, their costs can also be cheaper as there are far fewer statutory filings and reporting deadlines. You also will not have to pay a registration fee to Companies House.
More privacy
You are protected by HMRC’s taxpayer confidentiality rules as a Sole Trader. With your details kept private, your rivals will have less information about you that makes it more difficult for them to size you up and compete.
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Why Service and Software really works?

Hi there! I have a question about my bank reconciliation this month.

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Evan

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No problem - let me just take a look at your account now...

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RR Accountants

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We are With you every step of the way

We pioneered the all-inclusive Service and Software model, revolutionising accounting by offering Finvera as a cost-effective solution, providing professionals with comprehensive tools to effectively manage their business finances and achieve maximum control.

Ensure you are as tax-efficient as possible

While running a business as a Sole Trader is straightforward, it may not be your most tax-efficient structure. RR Accountants offers advice on how to set up and run a Limited Company.

RR Accountants will ensure you can claim every viable business expense to offset the tax you pay. Your RR Accountants accounting costs can be offset against tax.

At £30,000 profit and above, it is almost certainly more tax efficient to start your own Limited Company. Ask for a free Tax Computation from your expert advisor.

If you have already chosen the Sole Trader product, do check with your Client Manager when will be the right time to upgrade to the Limited Company product so you can save on tax.

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Saving you time and money
Who we can help
We're here to happily support anyone who needs a hand with their accounting needs
Affordable pay-monthly plans
Self-employed or a startup business?
We strive to watch our clients grow. So if you're self-employed or you've newly formed a business, we have the perfect package for you.

Helping Sole-traders since 2010

We really are the experts.

Ideal for freelancers & self-employed

Perfect for under £35K earners

ACCA & AAT qualified accountants

Our expert accountants follow the bylaws, regulations, and ethical guidelines of the ACCA.

Save time and money, we file on your behalf

We ask you a few questions to prepare all of the information for HMRC and then get filing.

Sole Trader Pro

£25.50£12.75*

+VAT per month

*50% off for first three months

Included:

Self Assessment
Unlimited accountancy support
HMRC registration (UTR)
Dedicated client management
Trusted accountancy services for over 5,000+ clients across the UK.
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5,000+
clients use RR Accountants for their accounting
14 Years
supporting individuals & small businesses
90%+
of our clients recommend us
Affiliations
Institute of Financial Accountants

Get a free accounting consulting

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Frequently asked questions about
Sole Traders.

What is a Sole Trader, and how does it differ from other business structures in the UK?

A Sole Trader is an individual running their own business without forming a separate legal entity. Unlike limited companies, sole traders have unlimited personal liability for business debts.

How do I register as a Sole Trader in the UK?

To register as a sole trader in the UK, you must inform HM Revenue and Customs (HMRC) about your self-employment details and associated business activities online or by contacting them directly in-person.

What are the tax implications for Sole Traders in the UK?

UK sole traders face income tax obligations on business profits. Besides, they must pay attention to maintaining accurate financial records and may register for VAT if their sales surpass the designated threshold.

Can a Sole Trader employ staff in the UK?

Yes, a sole trader is eligible to employ staff in the UK..

What is the financial liability of a Sole Trader?

The financial liability of a Sole Trader is unlimited, meaning they are personally liable for any debts or obligations incurred by the business.

When should a Sole Trader consider transitioning to a Limited Company in the UK?

A Sole Trader must consider transitioning to a Limited Company in the UK when their business expand exponentially, they want to limit personal liability, or they seek tax advantages associated with any corporate structure.

Still have questions?

Speak to an expert
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Information Hub

Helpful Sole Trader resources

Looking for sole trader advice and guidance before paying for our service? We've got you covered.

What is a sole trader? A great way to start being ...
Being a sole trader merely means that there’s no legal distinction between the owner and the busines...
Self Assessment: What happens if I miss the deadli...
The annual deadline for submitting your online Self Assessment and paying any tax owed is midnight o...
Understanding the legal requirements of being a so...
In this article, we explain the legal requirements you must follow and the benefits and risks you sh...

Claim partner offers when you sign up to RR Accountants

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1st Transfer
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10% offer
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£76 Cash
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1st Transfer
Services
&
Software all in one
Whether you're just starting out, or optimising your business, we have the resources and networks to ensure your business achieves its growth potential.

Free Business Software

From the future, designed for businesses of all sizes.

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Optional extras for Sole Traders
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Year End Accounts
End your fiscal year with our expert year-end accounting solutions, ensuring accuracy and timely submission every time.
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Payroll
Simplify your payroll process with our effective payroll solutions, ensuring timely payments and full compliance with each pay cycle.
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Bookkeeping
Our bookkeeping service is here to maintain your accounts, freeing up your time to focus on what you do best – managing your business, with our Certified Chartered Accountants ready to assist.
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VAT Submission
Submitting and filing your VAT return to HMRC is a breeze. RR Accountants processes returns through HMRC-compatible software MTD (Making Tax Digital) on a quarterly basis.
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Performance Reviews
You only see them once a year, you leave with a massive bill and you dread it every time. No, we’re not speaking about the dentist. We’re talking about traditional accountants. But with Annual and Quarterly Catch-Ups, that will be a thing of the past.
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RR Accountants One-to-One
Connect with our live video service, where you can talk to our client managers or accountants at a time that's convenient for you.
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Free Accounting Consultation
Outsourced Finance Department
UK Film Tax Relief
Corporation Tax Filing
Legal Support
Virtual Office
IR35
Free Company Formation
Accounting packages
Bookkeeping
Capital Gains Tax
Add-ons

Running your own business can be challenging so why not let RR Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?

Get a free accounting consultation

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Sole trader vs limited company
Registering for VAT
Dividends and personal tax
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