Sole Trader Accounts

Sole traders and non-VAT registered businesses can often receive less support because their compliance requirements are more straightforward. But your business doesn't stand still. Regular touchpoints throughout the year give you greater visibility over profitability, cash flow and tax, helping you understand what's happening now and what decisions may be coming next.

Accountancy that grows with your business.

Your Trusted Accountancy Partner

100+

Self assessments completed

33

Incorporations set up

As your turnover grows, your costs change and your ambitions develop, having greater visibility of your finances becomes increasingly important. We believe sole traders deserve the same access to meaningful financial conversations - not just an annual Self Assessment.

We combine your accounts and tax compliance with regular financial reviews, helping you understand your profitability, cash flow and tax position, while considering what your business may need next.

Because your business deserves an accountant who grows with it.

TRUSTED BY

The Equinoxed Process

More than an annual tax return. A continuous cycle of support.

From the moment you join us, we take the time to understand your business, build the right financial foundations and keep the conversation going throughout the year. Regular touchpoints mean we can help you understand your numbers, make your money work harder and identify opportunities as your business develops. Your Self Assessment is just one part of the journey. We stay alongside you throughout the year, helping you make confident decisions about where your business is going next.

Step 1

Discovery Call

Start with understanding your business. We take the time to understand you, your business and where you want to go — from your current financial position and challenges to your goals, plans and any changes on the horizon.

Step 2

Onboarding & Business Foundations

Once you're onboard, we review your accounting setup, systems and processes, identifying opportunities to improve how you manage your finances and giving you greater confidence in understanding your numbers and navigating Xero.

Step 3

Quarterly Advisory

In most cases we advise meeting quarterly to review your position throughout the year. We ensure you have accurate financial information and feel equipped to make informed decision as the business continues to grow.

Step 4

Annual Tax Return

Your Self Assessment is prepared accurately and submitted to HMRC on time, with clear guidance around your tax liability and payments. More importantly, we use your financial position to look ahead, helping you consider tax planning and the next stage of your business rather than simply reporting on the year that's gone.

More than a tax return. Support for what's next.

We work with sole traders across a range of industries, combining Self Assessment, tax planning and bookkeeping with regular financial conversations throughout the year. From understanding profitability and cash flow to planning your next stage of growth, we help you understand your numbers and make confident decisions about what's next.

> SELF ASSESSMENT TAX RETURN <

Giving you the upperhand

Preparing your Self Assessment is about more than submitting figures, and paying tax liabilities to HMRC by 31^st January following the end of the tax year. We make sure your income, allowable business expenses and relevant tax reliefs are accurately reflected, giving you a clear understanding of your taxable profit and personal tax position.

We don't believe tax planning should start when your tax return is due. By understanding your financial position throughout the year, we can help you anticipate your tax liability, consider available reliefs and avoid being caught off guard by your tax bill.

‍Good tax planning starts before the tax return.

MAKING TAX DIGITAL

Preparing your business for what's next.

Making Tax Digital (MTD) for Income Tax is being introduced in stages for sole traders and landlords, based on qualifying income from self-employment and property.

For the current rollout, MTD applies from 6 April 2026 where qualifying income was more than £50,000 for the 2024/25 tax year. The threshold then reduces to more than £30,000 for 2025/26, with MTD applying from 6 April 2027, and to more than £20,000 for 2026/27, with MTD applying from 6 April 2028.

Once within MTD, you'll need to keep digital records and use compatible software to send quarterly updates of your income and expenses to HMRC, alongside an end-of-year tax return.

We can help you understand when MTD applies to your business, make sure your accounting software is suitable and ensure your records are structured in a way that gives you useful financial information throughout the year.

‍The right systems shouldn't create more work. They should give you more control.

FINANCIAL VISIBILITY

Your business deserves more than a tax return once a year.

Our quarterly advisory meetings give you dedicated time to step away from the day-to-day and properly look at the financial side of your business. We review turnover, profitability, margins, costs, cash flow and your overall financial position, but more importantly, we ask the commercial questions behind the numbers.

Are you charging enough? Are your margins where they should be? Is your business generating the level of profit you expected? What happens if turnover continues to grow? When might VAT registration become necessary, or commercially beneficial? Would incorporating into a limited company make sense, and is there a level of profit at which the tax and commercial benefits start to outweigh the additional responsibilities?

These are not conversations that need to wait until your year-end. As your business develops, we'll help you understand when a change in structure, VAT registration, investment or expenditure may become appropriate, and what the financial implications could be.

The aim isn't simply to report on your business. It's to use your numbers to help you recognise opportunities, spot issues early and make informed decisions about what comes next.

‍Accurate numbers. Transparent communication. Consistent support.

industries we support

We work with businesses across construction, hospitality, creative, e-commerce and service sectors. Rather than trying to cover every industry, we focus where we can add the most value, through real understanding of how each sector runs. If you think we would be a good fit, let's talk.

Construction & Trades

Know which jobs actually make money

We encourage you to utilise project tracking which gives insight into where improvements can be made in profit margin. This can allow you to understand the root cause and consistency of damages and other losses. We can help you identify the most profitable projects, so you know whether you’re pricing correctly.

Marketing

Know what each client is really worth

We will work with you to understand how you factor in your time and the best way of developing your pricing structure. Many marketers collaborate and work across projects which we’ve identified can often cause cashflow issues. We can help you consider how to best manage this as well as a payment model that works for you.

Consultants

Ensuring your time is priced properly

We know it can be a challenge to charge your time to its true value. Together we identify the services you offer and see if we can implement a retainer-based model where possible, or achieve potential cost savings. We can work with you to improve workflow productivity, creating a more efficient, scalable, and compliant accounting operation.

Hair & Beauty

Maximising chair-earning potential

Sole-traders that operate within the hair and beauty space can face unique financial hurdles. Managing a blend of employed staff and self-employed chair-renters, the cost of products, and other overheads can can lead to fluctuating income. We can advise on considerations including stock management and time efficiency, highlighting key ways to be more profitable.

Migrate Accountants

Thinking of switching accountants? We make the process completely seamless. Our team handles the entire migration on your behalf, liaising with your previous accountant, transferring your records and getting everything configured so there's no disruption to your business. From your very first day as an Equinoxed client, you'll have the systems, the software and the expertise working together to support your business growth.

Migrate your accounts

Our Services

Our Reviews

It is genuinely a pleasure to read the reviews from some of our amazing clients. Here’s what they have to say about Equinoxed Accounting Services.

Managing Company Accounts with the best tools available

At Equinoxed Accounting, we believe our partners deserve a modern accountancy experience. That's why we work with industry-leading software including Xero, Dext, Syft, GoCardless and Brightpay. This allows us to combine real-time financial clarity with streamlined payroll, automated payment collection and effortless document management. Backed by AAT-licensed expertise, every tool we use is chosen to make your finances sharper, simpler and more effective.

Migrate your accounts

Our Services

Frequently Asked Questions

We’re passionate about helping our clients achieve financial success. See if we have answered your questions below:

How much tax should I save each month, and when do I actually pay it?

Set aside 25% to 30% of your monthly net income to stay comfortable. You pay tax via Self Assessment on 31 January following the tax year end.

If your bill exceeds £1,000, HMRC will also ask for two advance “Payments on Account” toward your next tax bill on 31 January and 31 July. With Equinoxed, you’ll be aware of liabilities throughout the year so that you can ensure the your tax bill is covered.

What software do I need for Making Tax Digital (MTD) for Income Tax?

If your gross self-employed income exceeds £50,000, or you have rental income exceeding this figure, digital record-keeping and quarterly updates are required under new MTD rules. You will need HMRC-recognised software like Xero compared to traditional paper logs or basic spreadsheets.

As part of our onboarding process, we will set up your cloud accounting software, configure automated bank feeds, and manage all quarterly filings on your behalf. As of April 2027, the threshold reduces from £50,000, to £30,000 so planning ahead is vital.

Should I switch from a sole trader to a Limited Company?

Remaining a sole trader offers simpler compliance and private accounts. However, incorporating as a Limited Company often becomes more tax-efficient once profits consistently pass £35,000–£40,000, as taking a mix of salary and dividends reduces your National Insurance liabilities.

We will always run tax-efficiency comparisons between both structures and handle the full company formation and HMRC transfer if incorporation is right for you.

What happens if I file or pay my Self Assessment late?

HMRC issues an immediate £100 penalty if your return is even one day late. This will be followed by daily £10 fines after 3 months, plus statutory interest added to unpaid tax balances.

We operate an early-preparation model, gathering your records months before deadlines to ensure compliance and no hidden penalties.

Contact us

Tell us a bit about your business and what you need. We will get back to you as soon as possible.

Thank you! Your submission has been received!

Oops! Something went wrong while submitting the form.

Sole Trader Accounts

Accountancy that grows with your business.

100+

33

TRUSTED BY

Company accounts our
customers Rave about