Skip to main contentSkip to footer
Core Services

Sole Trader Support

Sole Trader Support
Chris

Stay Organised, Stay Compliant

Being a sole trader gives you independence and flexibility, but it also comes with ongoing tax responsibilities. From keeping accurate records to submitting your annual Self-Assessment, everything needs to be done correctly and on time.

At CDC Accounting, we provide complete support for sole traders, ensuring your accounts are accurate, compliant and fully up to date. Whether it’s your year-end tax return or preparing for upcoming HMRC changes, everything is handled for you with care and attention to detail.

We take the pressure off deadlines, paperwork and compliance so you can focus on running your business.

Sole Trader Accounts & Self-Assessment

Even if your business is straightforward, HMRC still requires a full Self-Assessment tax return every year. This must include all income, expenses and relevant financial information from your trading activity.

When you work with CDC Accounting, your sole trader accounts and tax return are prepared accurately and submitted on time, ensuring everything is correct before it reaches HMRC.

What’s included:

  • Preparation of annual sole trader accounts
  • Full Self-Assessment tax return completion and submission
  • Recording and categorising business income
  • Review and inclusion of allowable expenses
  • Calculation of taxable profit and tax liability
  • Advice on tax payments and deadlines
  • HMRC submission and compliance checks
  • Ongoing support with queries and adjustments

We ensure nothing is missed, everything is correctly reported and your tax position is fully compliant.

Plumber Sole Traider
Sole Trader Support
Sole Trader Support Landlord

Making Tax Digital (MTD) for Sole Traders

HMRC is introducing Making Tax Digital (MTD) for Income Tax, a major change to how sole traders and landlords report their earnings.

Instead of completing one annual Self-Assessment return, affected businesses will be required to keep digital records and send updates to HMRC using approved software throughout the year.

What MTD will require:

  • Digital record-keeping of all income and expenses.
  • Use of HMRC-recognised accounting software.
  • Submission of quarterly updates to HMRC.
  • A final end-of-year declaration to confirm totals.

Who will be affected

MTD for Income Tax will apply to:

  • Sole traders
  • Self-employed individuals
  • Landlords with property income

It is based on total gross income (not profit) from self-employment and property combined.

Income thresholds (current HMRC rollout):

  • From April 2026: income over £50,000
  • From April 2027: income over £30,000
  • Future phases are expected to extend to lower income levels

If you fall within these thresholds, you will need to comply with MTD requirements once they come into effect.

Stay compliant, stay organised and stay ahead of HMRC changes. Get in touch with CDC Accounting today for complete Sole Trader support.

Making Tax Digital (MTD) for Sole Traders

Sole Trader Support

HMRC is introducing Making Tax Digital (MTD) for Income Tax, a major change to how sole traders and landlords report their earnings.

Instead of completing one annual Self-Assessment return, affected businesses will be required to keep digital records and send updates to HMRC using approved software throughout the year.

What MTD will require:

  • Digital record-keeping of all income and expenses.
  • Use of HMRC-recognised accounting software.
  • Submission of quarterly updates to HMRC.
  • A final end-of-year declaration to confirm totals.
Sole Trader Support Landlord

Who will be affected

MTD for Income Tax will apply to:

  • Sole traders
  • Self-employed individuals
  • Landlords with property income

It is based on total gross income (not profit) from self-employment and property combined.

Income thresholds (current HMRC rollout):

  • From April 2026: income over £50,000
  • From April 2027: income over £30,000
  • Future phases are expected to extend to lower income levels

If you fall within these thresholds, you will need to comply with MTD requirements once they come into effect.

Stay compliant, stay organised and stay ahead of HMRC changes. Get in touch with CDC Accounting today for complete Sole Trader support.

Our Core Services