Check out our resources library for useful articles and up to date news.

Accounting System for Sole Traders

September 1, 2022

Erin looks after all our sole traders and earlier this year did a lot of work in the background on the best accounting system for self-assessment clients to use. It needed to comply with Making Tax Digital (MTD) for  Income Tax Self Assessment (ITSA), be straight forward to use and not cost the earth to subscribe to. After research and much testing Erin settled on FreeAgent and we will be recommending this to all sole trader clients.

There were 3 key things that set FreeAgent above the rest:

  1. Being owned by NatWest bank FreeAgent can be used for free with NatWest’s sole trader bank account offering Mettle
  2. FreeAgent has a ‘Tax Timeline’ feature that keeps you up to date with upcoming deadlines and payments, without the need to wait for us to reply to your question!
  3. The Cashflow on the dashboard can to help manage the money within your business

We run free training sessions for our clients to help them get the most out of using FreeAgent and make the most efficiencies when keeping on top of the finances of their business. Our last 2 sessions at our offices, for 2023 are:

  • Wednesday 29th November 3.30pm – 4.30pm
  • Tuesday 19th December 3.30pm – 4.30pm

If you aren’t a client and would like to be and take advantage of the above please get in contact with us.

LilyIris Accounting logo

Working With Us

We are always excited when new clients come on board and we can make a difference to their business.

Are you:

  • An existing Limited Company
  • Searching for a bookkeeper that does more than simply reconcile your bank
  • Looking for professional support for your business journey

Talk to Us - Book a Discovery Call 

Are you a Sole Trader, Quickbooks/Sage user or looking for tax advice?
We only do Sole Trader Tax Returns for people working in the Construction Industry. We don't do any other Sole Trader Tax Returns, tax planning or use Quickbooks/Sage - but we can recommend some fabulous people that do!

Call Us

01454 329507

Email Us

Have a Question Or Need to Make An Appointment? Email Us!

Social Media