Sole Traders
At LKO Accounting, we understand that managing your personal finances can be overwhelming. That’s why we offer a range of tailored accounting services to help sole traders navigate their finances with ease.
Who is this Service for?
A sole trader is a person who owns and runs a business on their own. They have full control, keep all the profits, but are personally responsible for any debts. It’s easy to set up and the income is taxed as part of their personal earnings.
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As a sole trader, your business income is considered personal income and is taxed accordingly through self-assessment. This means you're responsible for maintaining accurate financial records and ensuring timely submission of your tax returns.
To stay compliant and in control of your finances, it’s essential to keep track of key aspects of your business, including:
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Invoices for services or products you’ve provided,
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Business expenses such as travel (petrol), advertising, and office supply costs,
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A clear record of profits and losses.
At LKO Accounting, we understand the unique challenges sole traders face. That’s why we offer our Sole Trader Essentials package, designed to simplify your financial responsibilities, ensure full compliance with HMRC, and give you peace of mind.
Whether you're just starting out or looking to streamline your current setup, we're here to support you every step of the way.
Full package starting price: £69 (+VAT) per month.
All packages can be customised to include or exclude any services based on your specific needs. If a package is not for you, you may wish to explore our 'One-off' Services.
Packages do not include fees for your chosen Accounting Softwares.
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Contact Us for a complimentary consultation
What We Offer
