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Home>Process Flow>Sole Trader

Process Flow - Sole Trader

OverviewHow do I become self employed

Storing RecordsThe legal requirements for keeping various accounting records

Bank AccountsDo I need a separate bank account for my business

Overview of VAT1 FormAn overview of the VAT return and its requirements

Payroll Year EndYear End procedures for payrolls

The Pros and Cons of IncorporationThe Pros and Cons of forming a Limited Company

Letter to Previous AccountantProforma letter to previous accountants when taking over a client

Handling and Accounting for CashHow to deal with cash in my business

PayrollPAYE Overview

Business ExpensesWhat items are tax deductible as business expenses

Company Formation ChecklistA checklist to use when forming a limited company

New Client ChecklistChecklist for information required from a new client

Sub Contractor Vouchers CIS24Accounting for CIS vouchers when self employed

Critical DatesWhat are the critical dates in the self assessment process

Converting to a PartnershipHow to register a partnership

Client QuestionaireA questionnaire for new clients

Accounting for CIS VouchersThe accounting entries to use for CIS Vouchers

Storing RecordsThe legal requirements for keeping various accounting records

Setting up a PartnershipHow to setup a partnership

Letter of EngagementWhat is a letter of engagement?

Processing CIS VouchersThe CIS vouchers and how to handle and account for them

Overlap ProfitsHow to calculate taxable profit when accounting year is changed

VAT DeregistrationHow to deregister for VAT

Agent Authorisation Form 64-8Form required to authorise you to act as an agent for tax purposes

Self Employed Class2Class 2 National Insurance and the self employed

CIS Vouchers and the Self Assessment FormHow to account for CIS vouchers

Changing the VAT quarters - StaggerText

Registering for Self EmploymentHow to register as a sole trader

Bank ReconciliationHow to do a bank reconciliation

CIS36 Annual ReturnHow to complete a CIS36 return

Trading as a Going ConcernVat rules for the transfer of businesses

Class2 NICDetails of National insurance Class 2

Bad Debt RecoveryHow to recover Bad Debts

Loss of a Client New AccountantWhat to do when the practice loses a client

Bank AccountsDo I need a separate bank account for my business

Taxable and Non-Taxable IncomeTaxable and non-taxable income

Informing PAYEHow to close down a payroll

VAT RegistrationHow and when to register for VAT

Use of HomeWhat expenses can be claimed for using your own home

The Pros and Cons of IncorporationThe Pros and Cons of forming a Limited Company

CIS4 Contractor RegistrationRegistering as a contractor under the CIS system

CIS4 Sub Contractor RegistrationCIS4 Subcontractor Registration

CIS6 Contractor RequirementsRequirements of a contractor for handling CIS6

CIS6 Sub Contractor RequirementsThe requirements for a subcontractor for CIS6 qualification and handling

Critical DatesText

Registering as an EmployerHow to register as an employer

VAT Online RegistrationHow to register for VAT online

IR35 Employed StatusHow to decide if the client is employed or self employed for tax purposes

IR35 Self Employed StatusHow to decide if the client is employed or self employed for tax purposes

Employing PeoplePros and cons of employing people