Compliance services
Sole Trader & Partnership Accounts Preparation
K&R Accountants supports self-employed individuals and partnerships across Stoke-on-Trent and Staffordshire with professional accounts preparation and Self Assessment submissions. We compile your income and expenses into clear financial statements that satisfy HMRC requirements and provide evidence for mortgage applications, business loans, and tenancy agreements. Our team ensures you claim all allowable business expenses, from vehicle mileage to home office costs, reducing your tax liability legitimately. We calculate your tax and National Insurance contributions accurately, explain payments on account, and file your return well before the January deadline. Partners also receive individual tax computations showing their share of profits and personal tax position.
Where we help
- Income statements ready for lenders, landlords, and HMRC.
- Personal tax estimates so you can plan payments on account with confidence.
- Guidance on allowable expenses, capital allowances, and record keeping.
How it works
Collect & organise records
We gather bookkeeping data, receipts, and mileage logs in the format that suits you.
Prepare accounts & tax
We reconcile income and costs, calculate tax liability, and explain the figures plainly.
Submit & look ahead
We file Self Assessment returns and outline what to improve for the next year.
Next steps
Tell us about your trading year and we will estimate your tax and fees up front.
Frequently asked questions
When is the Self Assessment deadline?
For the 2024/25 tax year, paper returns must reach HMRC by 31 October 2025. Online returns and any tax owed are due by 31 January 2026. We recommend submitting well before the deadline to plan for any tax payments.
What expenses can I claim as a sole trader?
You can claim business expenses including office costs, travel, stock and materials, staff costs, marketing, professional fees, and a proportion of home office costs if you work from home. Vehicle expenses can be claimed using actual costs or simplified mileage rates.
What are payments on account?
Payments on account are advance payments towards your next tax bill. If your Self Assessment tax exceeds £1,000, HMRC requires two payments on account, each equal to half your previous year liability. These are due on 31 January and 31 July.
Related Services
Serving businesses across Stoke-on-Trent, Staffordshire, and the wider Midlands.