New Sole Trader with lots of questions

phill99

I have been in business 15 years and if I could give just one piece of advice it would be this: GET AN ACCOUNTANT.


You say you want to save money. I guarantee you it will cost you an awful lot more in tax than an accountants fees. UK Tax law is one of the most complicated in the world. Hence we have a well vetted and trained accountancy industry that understand the taxation system far better than rank amateurs.


Not only will it save you an awful lot of money by getting an accountant, it will save you time. The time you save will be better spent on business development, managing clients, marketing and sales. You might save £300 a year by not employing an accountant, but in the time it will take you to do your books and tax return, you could have developed business leads, done business networking etc etc and that £300 could easily turn into £3000 or £30000.


Just get an accountant

daddy_bro

LOL, Thanks guys. I've been asking around for recommendations and will have it sorted soon.
I knew a guy years ago who alway said, "Pay your taxes and sleep in your bed at night"
Good advice and if done properly by an accountant he/she might even pay for himself/herself.