SELF EMPLOYMENT

Limited Company

Partnership

Sole Traders

Contractors

Self Employment

Limited Liability Partnership

Landlords

Freelancers

Charities

A self-employed business, in the context of UK individuals, refers to someone who operates their own business and is responsible for its success or failure. These individuals work independently, rather than being employed by a company, and manage their own income and expenses.

They have the freedom to choose their work, set their rates, and manage their business operations, but they are also responsible for ensuring they comply with legal and tax obligations. Unlike employees, self-employed individuals do not receive benefits such as paid holidays or sick leave, and they must manage their own financial planning, such as pensions and savings.

PRS Smart for Self employed

Once you instruct PRS Smart Accountants, we’ll introduce you to your dedicated accountant. They will provide unlimited support and advice and help you with everything from initial set-up steps and bookeeping software onboarding such as Xero, Quickbooks, Sage etc. and to advice on complex financial accountancy and tax issues, including improving your tax efficiency to maximise your take home pay.

We understand that running a business as a Self Employed person is demanding enough without having the extra worry of staying on top of your bookkeeping, missing a tax deadline, making sure your tax submission is accurate and maximising your tax allowances. Choosing the right Sole Trader accountant is important to ensure you have all the support you need so that your business is financially healthy.

Your Sole Trader accountant will not only provide guidance on raising invoices, gathering paperwork, documents and receipts, but will ensure that you’re always up to date with tax return deadlines, VAT bills, outstanding invoices and more.