Sole Trader Accountants

Sole Trader AccountantsExpert Online Accounting Services

At CB Accounting & Consulting, we offer a number of accounting solutions to assist you as a sole trader. Although being a sole trader is one of the simplest ways to get started in business, there are many processes that need to be followed.

Are you already trading or considering starting a business as a sole trader? CB Accounting & Consulting can help as we provide a wide variety of accounting services and tax advice for small businesses and self-employed individuals.

The main advantages as a sole trader

  • Total control – You have total control over the business. Decisions can be made quickly and easily, from accountancy and financial decisions to general business decisions.
  • Easy to change to another trading identity. It is relatively easy to change your trading identity from that of a sole trader to a limited company.
  • Keep the profit – As the owner of the business, all the profit belongs to you.
  • Business affairs are private – When you run an unincorporated business your accounts are not made available to the public therefore competitors cannot see what you are earning hence they will know less about how your business works and how it succeeds.

The reasons why sole traders are often successful are:

  • They can offer a more personal approach – A smaller business can have closer contact with their customers and develop a close rapport in order to give a high level of service and customer care.
  • They can be sensitive to the needs of their customers – Being closer to the customer allows you to react more quickly to their needs than a larger business.
  • Can cater for the needs of local people – Small local businesses will be closer to the community and can develop good business relationships with their understanding of the area and local knowledge.

The main disadvantages of being a sole trader are:

  • You are personally liable and accountable for all your businesses debts – Should your business fail you could end up losing your personal assets such as your home, car, etc.
  • Can be difficult to raise finance – When you run a small unincorporated business, banks will not lend you large sums and you may find raising finance for the business is very difficult unless you are prepared to change your ownership status.
  • Can be difficult to enjoy economies of scale – Smaller business often find that they cannot buy supplies in bulk and do not enjoy the same discounts as larger businesses.
quickbooks - cb accountant badge 1
MTD-ready-advisor
How can we help you?

Competitive Accounts Service: Annual Accounts, Management Accounts, Company and Personal Taxation, VAT, Payroll and CIS, Company Formation and Digital Marketing Full Service.

I can highly recommend CB Accounting & Consulting LTD. They provide an extremely high level of professionalism and we are safe in the knowledge that we are in good hands.

placeholder
Amanda Seyfried
Founder & CEO, Arcade Systems

Why Choose Our Online Accounting Services?

cb accountant - free adviceEasy To Join Like 1-2-3

1. Get a Quote

2. Register Your Business

3. Receive a Warm Welcome

We help the businesses in the UK to thrive.

Amazing Experience – When you join us we will assign one of our accountants to you. They will really get to know you and your business in detail, providing one point of contact for any queries you may have.
Always Digital – We’ve partnered with Intuit QuickBooks to offer you an online accounting service that takes the guesswork out of managing your financial business records and allows you to do what you do best – drive sales and grow your business.
Expert Advice – Your dedicated accountant will always be on hand to answer any questions about your business.
No Hidden Costs – We will complete your annual accounts and submit any necessary tax returns to ensure your business always stays compliant with HMRC.
Tax Efficiency Reviews – We’ll also conduct regular tax efficiency reviews throughout your financial year, ensuring your business is being run in the most tax efficient way.

CB Accounting & Consulting | Expert Accounting Services

Looking for a First-Class Financial Advisor?

Call Now ButtonCall Now