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My Tax Doc Accountants & Tax Advisors
My Tax Doc Accountants & Tax Advisors

08000 096441

My Tax Doc Accountants & Tax Advisors

Accountants for Tradesmen

Are you a dedicated tradesperson eager to elevate your business without getting bogged down by paperwork? At MyTaxDoc, we’ve got your back! Let us handle the numbers while you focus on what you do best—crafting and creating. Say goodbye to tax headaches and hello to seamless success!

Mytaxdoc Accountants and Tax Advisors

MyTaxDoc – Your Tradesmen Accountancy Services

At MyTaxDoc, we’re here to lay the groundwork for top-notch accounting and a thriving business. Our specialist firm is built on years of tax planning and accounting know-how. Meet our dynamic duo, Barbara and Chris—successful entrepreneurs and accountants with an impressive 30-year property portfolio.

Barbara is passionate about helping business owners like you secure your financial future, guiding you on whether investing in property is a smart move for you now or down the line.

Get in touch with us today and discover how we can support you as your go-to accountants for tradesmen and women. Let’s build your success together!

How Does Accounting Work for Trade Businesses?

Trade businesses share many accounting needs with other enterprises, but there are a couple of key distinctions—namely, CIS and VAT reverse charge. At MyTaxDoc, we make sure all your compliance needs are covered, helping you save as much tax as legally possible for both your business and your family.

We’ll guide you in deciding whether to register as a sole trader or a limited company, weighing the benefits of each option.

But it’s not just about tax and accounting; our expert team is here to help you fine-tune every aspect of your business, ensuring it runs smoothly without wasting time, effort, or resources. Plus, if you’re keen on investing, we can leverage our experience to help you build a successful property portfolio. Let’s get your trade business thriving!

Our Accounting Services for     Tradespeople

Whether you’re a self-employed tradesperson, managing a limited company, or just after a bit of advice on where to kick off, we’re here to answer your questions and help you make those tax-efficient savings along the way.

At MyTaxDoc, we’ve got you covered in all areas of corporation tax, VAT returns, payroll, and CIS tax. Let’s dive into what our accounting services for tradespeople can do for you—because when it comes to your finances, we believe in working smarter, not harder!

Bookkeeping

Bookkeeping at MyTaxDoc means capturing your business activity efficiently. Just send us your expense invoices through our app, and we’ll handle the rest. Check your profits monthly with ease!

CIS Accounting

CIS can be complex, but we’ll ensure you’re compliant with HMRC. We handle all filings and provide necessary statements for subcontractors and contractors.

Payroll

We simplify payroll for you, managing submissions to HMRC and sending payslips to your staff. Plus, we’ll highlight any tax benefits of being on payroll as a Director.

Self-Assessment Tax Returns

We aim to save you money on both business and personal tax. Our team will structure your self-assessment to maximise savings for you and your family.

VAT Returns

As VAT experts, we keep your business compliant and maximise your benefits. We handle everything to ensure timely returns and help you save and grow.

 

Frequently Asked Questions

To understand more about what we can do as accountants for tradesmen, then take a look at our most frequently asked questions below

How Does the Construction Industry Scheme Apply to Trade Businesses?

The Construction Industry Scheme (CIS) ensures compliance with tax and National Insurance contributions in the construction sector, giving the Government more control. If you’re a contractor or hire subcontractors, CIS rules apply. Instead of subcontractors paying HMRC directly, the contractor collects the tax and passes it on.

This means you must meet compliance requirements with HMRC. Contractors need to submit monthly labour and materials figures for each subcontractor. Subcontractors must register with HMRC and include CIS details on their invoices.

Does a Tradesperson Need an Accountant?

Asking if a tradesperson needs an accountant is like asking if a homeowner needs an electrician. Sure, anyone can try, but to truly succeed, hiring a professional is the way to go.

Limited company accounts can be tricky with financial and tax laws, so a specialist firm like MyTaxDoc can guide you as you grow. We tailor our services to your unique business needs, helping you save on taxes—making our service practically pay for itself!

What Records Do Tradespeople Need to Keep?

Like all businesses, trade businesses must keep records for seven years, including sales and purchase invoices, bank statements, and year-end accounts. These records ensure compliance and help you and your accountant make informed decisions for growth.

Ready to Transform Your Accounting Experience?

You entered your profession to pursue your passion, not to worry about taxes and compliance. Let’s start with a FREE discovery call. No obligation, just a chance to learn how much easier your financial management can be with MyTaxDoc.