Sole Trader Income and Expenditure Accounts

Sole trader Income and Expenditure Accounts

We offer a complete income and expenditure production service and Self–Assessment Tax Return package for sole traders.

We recommend the income & expenditure account is prepared as soon as possible after the business’ year end. This ensures the business has advanced warning of any tax and national insurance liabilities and avoids potential fines for late filling or payment. This also provides you with an up to date assessment on how your business has performed which can be used as a management tool to focus on specific areas of the business for improvement and growth.  This will also allow you more time to budget for any tax and national insurance liabilities that maybe due.

We aim to turnaround your accounts within six weeks of receiving all the required information. We will also clearly explain your accounts to you without using jargon and we will continually look at ways to minimise your tax liabilities.

This service generally includes the following:-

  • Analysis of trading income and expenditure from Cash Books, CIS Statements, invoices, bank statements, cheque books and receipts

  • Complete single sheet income and expenditure account showing profit/(loss) for the year with previous years comparatives


  • Tax Computation were applicable to adjust from income & expenditure trading profit/Loss to tax adjusted trading profit/loss


  • Entering information on to personal tax return along with details of any other income received for the year and submitting to HM Revenue & Customs after approval.

The fixed fee will be quoted prior to undertaking any work after discussion and analysis of your requirements.  This is subject to change for future years dependent on changes in the business and the work involved producing the required documents.

For businesses in Torbay (Paignton, Torquay & Brixham), Totnes, Newton Abbot and surrounding areas of Devon we are happy to provide a pick-up service for your documentation. For areas further afield we are happy to receive your documentation either via post or electronic transfer.

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Willow Ridge, 1 Whitebeam Close, Paignton, Devon, TQ3 3GA

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Call us: 01803 900 102

Licenced to practice under AAT registration 1001987

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