Barbara Selkirk Qualified ACMA and ACIS Accountant offers IT expert proactive accountancy services to new or ongoing small businesses, sole traders, clubs and small limited companies.
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Profit & Loss Cash Book Balance Sheet BSW Accounting Services Ballards Place Eardiston Tenbury Wells Worcs WR15 8JR info@bswservices.co.uk Tel : - 01584 814594			Self Assessment – The Basics Working for yourself can be daunting especially if you were previously a PAYE employee However with the support of your BSW accountant, the prospect can be made easier especially if we help you from the beginning and help you set up basic records required to form annual accounts. Sole Trader’s Income tax and National Insurance As a sole trader you have to: · register with HM Revenue & Customs as self-employed · complete a self-assessment tax return every year · Pay Class 2 and Class 4 National Insurance contributions (NICs) Two Golden Rules……. · Be aware of all of your tax deadlines = it remains your responsibility to meet those deadlines, even if you use the services of a tax adviser like BSW Accountancy Services · Keep on top of your records on as regular basis – don’t ;eave it to the last minute! If you work for yourself BSW Accountancy Services can prepare your accounts and explain how the figures are arrived at and what they mean! If you want we can complete your book-keeping, complete your VAT returns and handle your payroll. We will make recommendations where necessary that will be tax efficient and suggest those that will enable the business to flourish and prosper. We will complete your self-assessment returns on time and calculate your tax liability for you and provide support and advice.
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