Helping you comply with tax legislation
It’s essential that all sole traders, large or small, maintain accurate and timely accounts including income and expenditure.Talk to us
To comply with tax legislation all sole traders must calculate how much tax is owed each year. Easy to access records will make this process much easier.
Jackson Accounts can assist your business maintain the correct record keeping by creating the following records, whilst maintaining a clear audit trail for tax purposes.
- All the business income received as a sole trader
- All personal income from other sources such as grants, property and investments. These can affect the amount of tax you have to pay.
- All expenditure associated with running the business
- VAT records if turnover is more than the VAT threshold
- All records for wages through HMRC’s PAYE system