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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 accounting software, and keeping proper records for Self Assessment.

We also explain how accounting rules are changing under Making Tax Digital (MTD). From April 2026 many sole traders will need to keep digital records and submit updates to HMRC using compatible software. You can learn more in our guide to Making Tax Digital for the self-employed.

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

Accounting software and accountants

  • Find the best self-employed accounting software
  • Why accounting software is essential for MTD filing
  • Accounting software vs spreadsheets
  • Do you need an accountant if you’re self-employed?
  • Compare sole trader accountants
  • How to switch accountants as a sole trader

Bookkeeping and records

  • Bookkeeping basics for small businesses
  • Accounting deadlines every self-employed person should know
  • A beginner’s guide to self-employed accounts
  • What counts as turnover?

Claiming business expenses

  • What expenses can you claim as a sole trader?
  • How simplified expenses work
  • Claiming home office expenses
  • Mileage allowance explained
  • Travel expenses for sole traders
  • Training expenses explained
  • Equipment and tool expenses

Invoices and payments

  • Free invoice templates for sole traders
  • Setting payment terms for clients
  • What to do if a client doesn’t pay
  • Using a debt recovery service
making tax digital for income tax self employed

Making Tax Digital (MTD) for Income Tax – guide for the self-employed

February 4, 2026
With HMRC's Making Tax Digital (MTD) for Income Tax coming soon, the frequency of filing returns will increase quite dramatically for the self employed.
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compare sole trader accountants

Compare Sole Trader Accountants – Monthly Fees & Features (2026)

February 1, 2026
On this page, we have added some links and details of sole trader accountants we have worked with for many years at ByteStart. Compare fees and features.
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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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accounting software self employed

What’s the best accounting software for the self employed (sole traders)?

January 26, 2026
Sole traders can choose from a host of online accounting software packages. These tools help manage your finances adn come packed with time-saving features.
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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 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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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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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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bright ideas sole trader accountant



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