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Accounts & Expenses

Keeping on top of your accounts is a key part of running a small business.

In this section, you’ll find practical guides on recording expenses, tracking your income and expenditure, choosing the right accounting software, and keeping accurate records for self assessment time!

We also have extensive guidance on accounting for Making Tax Digital (MTD) changes, which take effect from April 2026.

Whether you manage the accounts yourself or hire an accountant, understanding how accounts work will save you time, money, and stress.

  • Why accounting software is essential for MTD filing
  • Find the best self-employed accounting software
  • Do you need an accountant if you’re self-employed?
  • Compare sole trader accountants
  • How HMRC simplified expenses work
  • What expenses can you claim as a sole trader
accounting deadlines for sole traders

Accounting deadlines every self-employed person should know

January 27, 2026
Key tax and accounting deadlines for sole traders, including Self Assessment, MTD, VAT, payments on account, and more – with tips to avoid penalties.
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anna free mtd for income tax

ANNA Money offers free MTD Income Tax filings ahead of deadline

January 22, 2026
ByteStart partner ANNA Money has announced it will offer free MTD ITSA filings on a permanent basis, with no subscription fees or time limits.
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anna money

ANNA Money review: free business account with MTD filing tools

January 22, 2026
ANNA Money is an app-based business account for small companies and sole traders, offering a debit card and built-in Making Tax Digital (MTD) tools.
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card reader small business

Card readers and in-person payments for sole traders

January 17, 2026
A practical guide to card readers for sole traders, including how they work, what they cost, and when in-person card payments are useful.
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xero mtd sole trader income tax

Using Xero for Making Tax Digital (MTD for Income Tax) as a sole trader

January 9, 2026
A practical guide to using Xero for Making Tax Digital for Income Tax. See how it works under MTD and whether it suits sole traders.
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MTD accounting software

Why accounting software is essential for Making Tax Digital (MTD)

January 9, 2026
Making Tax Digital (for Income Tax) starts in April 2026. We explain why accounting software matters and can help you produce and submit digital records.
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mtd accountant quarterly

From annual returns to quarterly updates: MTD for sole traders

January 5, 2026
MTD for Income Tax begins in April 2026. We explain how quarterly reporting affects sole traders, the £50,000 threshold, and how to prepare.
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do i need accountant self employed sole trader

Do you need an accountant if you’re self-employed (sole trader)?

January 5, 2026
Do you need an accountant when self-employed? Learn when to DIY, when to hire help, and how a good accountant can save you time, stress, and tax.
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What counts as proof of income when you are a sole trader

What counts as proof of income when you are a sole trader

October 22, 2025
How to prove your income if you're self-employed. Which documents to use, how to get your SA302 from HMRC, and how much history you need as a sole trader.
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parking tolls congestion expenses

How to claim parking, tolls and congestion charges as travel expenses

October 13, 2025
Learn when sole traders can claim parking, tolls and congestion charges as business travel expenses, and what HMRC won’t allow.
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Clever Accounts

From £37.50 + VAT/month

Unlimited support, Self Assessment, VAT, MTD-ready.

Visit site
Vantage Accounting

From £49 + VAT/month

FreeAgent included, MTD-ready, Self Assessment.

Visit site
Brand new ByteStart guides
  • Accounting deadlines every self-employed person should know
  • Public liability insurance for sole traders (when you need it and when you don’t)
  • How to successfully start a small business in the evenings



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