Annual Or Year End Accountancy Company

Do you need annual accounts, year end accounts or help from an accountant?

You must keep a record of your business income and expenses for your tax return if you are self employed as a sole trader or partner of a business partnership.

Either cash basis or accrual basis (also known as traditional accounting), We’ll prepare full set of sole trader annual accounts, so you’ll receive a Chartered Accountant signed annual accounts.

We’ll also calculate your tax liability and prepare your Self-assessment tax return form for you. You will have access to our self-assessment tax return checklist to assess yourself if any other areas of tax return are relevant to you for declaration to HMRC.

HMRC introduced Making Tax Digital for Income Tax Self-Assessment for Sole Traders and Landlords from April 2026 for qualifying income over £50,000 and from April 2027 with qualifying income of over £30,000. Intention is to help business to get their tax right and make digital records mandatory.

This means, you will need to keep your record digitally, provide quarterly return to HMRC. Early adoption is permitted.

It is very important to keep accurate bookkeeping (we highly recommend using a digital system to manage and keep receipts/documents electronically), understand allowable expenses, handling VAT as a sole trader. If you have employees then you will have other obligations to comply with such as complying with employer obligations, health and safety, employer liability insurance.

If you are looking for help from an accountancy company that specialises in ensuring your sole trader annual accounts are appropriately prepared, up to date and filed on time, Skynet Accounting & Bookkeeping can help.

We do not work for you we work with you to become an asset to your team and will look to understand your exact needs, so you have complete peace of mind when dealing with us.

Why not get in touch with us to book your free initial consultation.

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