Self Employed / Sole Traders
Tax Returns & Profit & Loss Accounts for Self Employed
Running a business as a sole trader or self-employed individual means keeping on top of Self-Assessment tax returns, bookkeeping, and expenses. We make the process hassle-free, ensuring you pay the right tax while maximising your income.
As a self-employed business owner or sole trader, you don’t have to file full company accounts, but you still need to keep accurate financial records and submit an annual Self-Assessment tax return to HMRC.
Getting this right is essential to avoid penalties, reduce your tax bill, and stay compliant.
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At Launch Accounts, we help sole traders and self-employed professionals with:
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Self-Assessment tax returns – Calculating your tax liability and ensuring correct submission to HMRC
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Bookkeeping & record-keeping – Organising income and expenses to simplify your tax return
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Claiming allowable expenses – Helping you maximise deductions to legally reduce your tax bill
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National Insurance contributions – Ensuring you’re paying the correct Class 2 and Class 4 NICs
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VAT registration & returns – Advising on VAT thresholds and handling VAT submissions if required
With tax laws frequently changing, our expert accounting support ensures you’re paying the right amount of tax while keeping more of what you earn.
Business Expenses
Claim all allowable expenses to reduce your tax bill and improve cash flow
Bookkeeping
Stay organised with professional bookkeeping, and Making Tax Digital.
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What are year-end accounts, and why are they important?Year-end accounts are a summary of your company’s financial activity over the accounting period. They include a profit and loss statement and a balance sheet. These reports are required for compliance with Companies House and HMRC and help businesses assess financial performance and tax obligations.
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When do I need to file my accounts with Companies House?Limited companies in the UK must file their annual accounts within 9 months of the company’s financial year-end. Filing late can result in penalties, so it’s essential to work with a reliable accountant like Launch Accounts to meet deadlines.
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What cloud accounting software do you recommend?We specialise in Xero (but can also work with other cloud accounting software) and work with businesses already using the platform to optimise their accounting processes. As Xero experts, we ensure your financial records are accurate, compliant, and efficient, helping you get the most out of cloud accounting. If you're currently using another system, we also provide seamless migration to Xero, ensuring a smooth transition with minimal disruption to your business. With automated bank feeds, real-time financial insights, and effortless tax submissions, cloud accounting makes managing your finances easier than ever.
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What’s included in your year-end accounts service?Our year-end accounts service includes: Preparation of financial statements (profit & loss, balance sheet) Companies House submission Corporation tax return (CT600) filing with HMRC Cloud accounting support for Xero Tax efficiency advice to help minimise liabilities Year-end accounts virtual meeting
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How can I switch my accounting to Launch Accounts?Switching to Launch Accounts is seamless. We handle everything, from liaising with your previous accountant to registering as your Agent with HMRC. Many clients worry that changing accountants will be complicated, but the process is straightforward, and your current accountant is required to provide the necessary information. We make the transition smooth, ensuring minimal disruption while keeping your accounts compliant and up to date.
Let's Talk About Your Self-Employment
Need a hand with your self-employed accounts? Give us a shout!
As a sole trader or self-employed professional, keeping on top of taxes can be stressful. We make the process simple, helping you submit accurate tax returns and keep more of your income.
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Start the conversation today – get in touch to see how we can help.