Built around how your business is set up
Sole trader, partnership or limited company, the filings are different and so is the advice worth having.
Sole traders
You and the business are the same legal thing, which keeps life simple in some ways and complicated in others. Your profits are taxed as your income, so business decisions and personal tax decisions are really one conversation.
- Self assessment prepared and filed on time
- CIS returns and deduction reclaims if you work as a subcontractor
- Allowable expenses reviewed properly, not guessed at
- Class 4 National Insurance handled alongside your tax
- Making Tax Digital for Income Tax: we will tell you when it applies and get you ready before it does
- An honest view on whether incorporating would actually leave you better off
Partnerships
A partnership files its own return, and then each partner has their own position to deal with on top. When those two sides are handled by different people, figures tend to stop agreeing with each other.
- Partnership tax return prepared and filed
- Each partner's self assessment handled alongside it
- Profit shares and drawings tracked properly through the year
- Clear reporting so every partner sees the same numbers
- Support when partners join, leave or change share
Limited companies
More reporting, more deadlines, and a genuine set of choices about how you take money out of the business. Done well, the structure works for you. Left alone, it quietly costs you.
- Statutory accounts prepared and filed at Companies House
- Corporation tax computations and CT600 returns
- Payroll and director salary set up sensibly
- Salary and dividend planning reviewed each year
- Confirmation statements and Companies House filings kept current
Going limited is not automatically the right move
It often is, and plenty of sole traders leave it too late. But it brings real obligations with it, and the point at which it starts paying off depends on your profits, how much you draw and what you are planning next. We will give you the actual numbers for your situation rather than a rule of thumb, and tell you plainly if it is not worth it yet.
Let's have a proper conversation about your numbers
Book a free, no obligation consultation with Bas. He will look at where you are now, what is coming up, and whether Blueband is the right fit. No pressure either way.