Accounting Services For Sole Traders and Partnerships

by specialist sole trader and partnership accountants

Warr & Co provide sole trader accounting and partnership accounting services to hundreds of business owners across the UK.

We understand that choosing the right accountant as a sole traders or partnership is paramount to your business success. We also understand that your time is your most valuable asset, which is why we offer and recommend a comprehensive range of accounting services for sole traders and partnerships.

What sets us apart is the level of service we offer. We get to know you and your business so that we can offer tailored solutions and advice to help your business succeed.

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Specialist Sole Trader Accountants

As expert sole trader accountants, Warr & Co can help your business succeed by providing you with the latest updates and adjusting your service as appropriate.

Within our personally tailored service, we can:

  • assist and provide guidance on tax matters for sole traders and partnerships
  • prepare sole trader and partnership accounts to the required formats for inclusion in your self assessment tax return
  • provide tax planning advice on how to reduce your liability
  • annually review whether incorporation and utilising a limited company is tax beneficial for you
  • ensure you are claiming all tax reliefs available to you so you can be certain that you are not paying a penny more tax than you should be
  • calculate your tax liabilities as soon as possible to ensure that there are no nasty surprises
Wole trader work desk with computer, coffee and folders

Services Recommended For Sole Traders & Partnerships

Tax Enquiry Service

Additional Relevant Information For Sole Traders & Partnerships

Professional Indemnity Insurance For Sole Traders & Partnerships

What Is Professional Indemnity Insurance?

Professional indemnity insurance is the most important type of insurance that your business should have if you are a sole trader or partnership. This type of insurance protects you against claims made by clients.

Professional indemnity insurance will cover you and your business from the everyday risks that can come with being a sole trader or a business partner. Imagine a mistake has been made, the costs that are potentially applicable in correcting that mistake, and the losses which could have occurred as a result, which you could potentially be liable for.

While it’s worth noting that these cases are rare, they do happen every year. Without professional indemnity insurance, you and your business are at huge risk every day you operate. Insurance is an affordable and tax-deductible safety net for your business.

Why Do We Recommend Professional Indemnity Insurance?

If an occasion should arise where you enter a dispute over an error made, work standards, or expectations, your business needs to be protected from a potential claim. It’s worth noting that even if you are in no way at fault, a claim could still be made against your business, resulting in you having to defend yourself at your own cost.

Professional indemnity insurance protects you from some of the costs associated, which is why the team at Warr & Co believe this is an essential requirement for your sole trader or partnership business.

Warr & Co have teamed up with Caunce O’Hara – small business insurance specialists – to offer professional services to our client base. Caunce O’Hara, a top 100 independent broker, were selected by our board of directors for their expertise in the small business market combining decades of specialist experience. In addition, the team at Caunce O’Hara provide a 24/7 easy purchase option. Simply fill your details in to obtain a quote and click to begin your policy.

We can’t stress enough the importance of protecting your business with professional indemnity insurance. Please click the link below to visit Caunce O’Hara for a free no-obligation quote now.

Get A Quote From Our Recommended Suppliers*

*By clicking the link above you understand that you will be directed to a third party website. If you choose to proceed to purchase insurance products from Caunce O’ Hara, Warr & Co will receive commission for your purchase, and by clicking this link, you agree that Warr & Co Limited may retain this. For example should you purchase a professional indemnity insurance policy for £200 (net of IPT) Warr & Co would receive £15 as commission.

Tax Enquiry Service

What Is A Tax Enquiry?

A Tax Enquiry is an HMRC investigation into your businesses taxes. Often this is not a simple process, as the investigative team from HMRC may want paperwork and face-to-face meetings to discuss your business taxes.

Anyone can be subject to an HMRC enquiry, and you must comply by law. They can target any business they wish to and do not have to have a reason to target your business, meaning that they can open an enquiry even if you’ve done nothing wrong.

This is troubling for businesses, and especially small businesses. The cost of defending your company in a tax enquiry with HMRC is significant and can easily run into thousands of pounds – in addition, it’s not unusual for enquiries to last months or even years. So you need a good accountant on your side to defend you and ensure no errors are made on your behalf throughout the investigation.

What’s Included In The Tax Enquiry Service?

Warr & Co will deal with all HMRC correspondence on your behalf, we will prepare and defend your case, and we will negotiate the best possible outcome for you wherever necessary.

Did you know? Even if you are not at fault and have had no errors in your business taxes, the costs of defending your business in an HMRC enquiry are not refunded. Unfair, yes, but that’s exactly why this add-on service is highly recommended to all of our business clients.

For one small annual fee, your business is covered in case HMRC decides to open an enquiry for your business. Whatever the outcome, you’re safest if you have our Tax Enquiry Service on your side.

We have plenty of information, including a downloadable leaflet about tax enquiries and pricing for this service, on the link below.

Learn More About Our Tax Enquiry Service

Book A Free Accounting Services Consultation Now

for sole traders & partnerships