A quick question - do you have to engage the services of an accountant if you are a sole trader to prepare your books, self assessment etc., ?
So far, I have a few clients who I just take care of the general day to day stuff, albeit on a monthly basis, and as yet have not got too involved in the end of year preparations. My husband is setting up in business and had a meeting with an accountant to discuss the pros and cons of either sole trader or limited. There is a big difference in fees charged to do year end / self assessment for either option, I would like to know if he went the sole trader option would he be able to prepare the necessary end of year reports / assessments without the use of an accountant ?? We know the benefits of going limited but do not want to speed ahead too soon.
You don't need the services of an accountant for either sole-trader or limited company... unless the turnover is over £5.6M (I think, plus a few other considerations).
It will just depend on what you are comfortable with, and able to manage.
