Sole trader
accountants, London.
Self assessment, expenses, bookkeeping and Making Tax Digital for the self-employed across London — fixed fees, no jargon.
Do sole traders need an accountant?
There's no legal requirement, but most sole traders find an accountant saves them more than the fee costs: by claiming every allowable expense, filing the self assessment return on time to avoid HMRC penalties, and freeing up time to run the business. Brathwaite looks after sole traders across London on a fixed fee agreed before we start.
Who We Help
We work with sole traders and self-employed people across London, whether you are in your first year of trading or have been self-employed for years. Our clients include:
Whether you prefer to meet in person or work entirely remotely, we adapt to you.
What's Included
A sole trader engagement with Brathwaite covers:
All packages are fixed-fee and agreed in writing before we start. You won't receive an unexpected invoice for a phone call or a quick question.
Deadlines & Making Tax Digital
As a sole trader you report your profits on a self assessment tax return. The online return and any tax owed are due by 31st January after the end of the tax year, and missing the deadline brings an automatic £100 penalty, even if no tax is owed.
Making Tax Digital for Income Tax is changing how the self-employed report. Since April 2026, sole traders and landlords with qualifying income over £50,000 must keep digital records and send quarterly updates to HMRC, and the £30,000 threshold follows in April 2027. See our Making Tax Digital guide for the details.
If you work in construction, we also handle CIS deductions and refunds. And when your profits grow, we will tell you whether a limited company would leave you better off.
Frequently Asked Questions
When is the self assessment deadline for sole traders?
Online self assessment returns are due by 31st January following the end of the tax year (5th April), and any tax owed is due the same day. Paper returns must be submitted by 31st October. If you are newly self-employed, you must register for Self Assessment by 5th October after the end of the tax year. We can handle the registration for you.
What happens if I miss the deadline?
Missing the 31st January deadline results in an automatic £100 penalty, even if no tax is owed. Further penalties of £10 per day apply from 3 months, with more from 6 and 12 months. We begin your return well ahead of the deadline so this never happens.
What expenses can I claim as a sole trader?
You can claim expenses that are wholly and exclusively for business purposes, including office costs, travel, equipment, professional subscriptions and marketing. We review your costs so every allowable expense is claimed.
Does Making Tax Digital for Income Tax apply to me?
Since April 2026, self-employed people and landlords with qualifying income over £50,000 must keep digital records and send quarterly updates to HMRC. The £30,000 threshold follows in April 2027. We set up the software and handle the submissions.
Should I stay a sole trader or set up a limited company?
It depends on your profits, how much admin you are willing to take on and your plans. Sole trader status is simpler and cheaper to run; a limited company offers personal liability protection and can be more tax-efficient above certain profit levels. We run the numbers for your situation and give you a clear comparison before you decide.
Let's talk.
Expert advice, no jargon.
Book Consultation →Or call 07349 960875 — Monday to Friday, 9am–6pm
Local accountancy, wherever you are
Based in Ilford, supporting owner-managed businesses across every London borough. Browse our local pages for area-specific service detail.