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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
questions accountant sole trader

15 smart questions to ask before choosing an accountant

August 6, 2025
Thinking of hiring an accountant? Here are 15 smart questions to help sole traders choose the right one - plus tips on fees, software, and switching.
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payment terms invoice

What payment terms should I use when invoicing clients?

August 5, 2025
Setting the right payment terms helps you get paid faster. Learn what terms to use, how to handle big clients, and what UK law says about late payments.
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overdue invoice sole trader

Chasing unpaid invoices as a sole trader: practical steps and your legal rights

August 5, 2025
Unpaid invoice? This guide for UK sole traders explains how to chase late payments, what the law says, and what to do if a client still doesn’t pay.
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subsistence expenses self employed

Claiming subsistence as a sole trader – meals, hotels, and what HMRC allows

August 1, 2025
Find out what meals, drinks and accommodation you can claim if you're self-employed. Includes HMRC rules, examples, and a clear table of what’s allowed.
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pre trading backdate expenses sole trader

Can I backdate business expenses before I registered as self-employed?

August 1, 2025
Can you claim business expenses before registering as self-employed? Find out what HMRC allows, the time limits, and how to record pre-trading costs.
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claim mileage self employed

Mileage allowance for sole traders: HMRC rules and rates (2025/26)

July 31, 2025
G-uide to mileage allowance for sole traders in 2025/26 – including HMRC rates, what journeys qualify, how to keep records, and the best tracking tools.
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home expenses self employed sole trader

Home office expenses for the self-employed: what you can claim

July 27, 2025
Self-employed and working from home? Learn how to claim household expenses, including rent, utilities, and simplified flat rates.
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accounting software or spreadsheet

Should you use accounting software or stick with spreadsheets?

July 26, 2025
Thinking of switching from spreadsheets to accounting software? The pros and cons of both options for sole traders and other small business owners.
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work clothes business expenses

Can I claim clothing as a business expense if I’m self-employed?

July 17, 2025
Find out when you can claim clothing as a self-employed business expense, including uniforms, PPE and what HMRC allows (and doesn’t).
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xero freeagent accountant

Do you still need an accountant if you use FreeAgent or Xero?

July 16, 2025
Using FreeAgent or Xero for your accounts? Find out if you still need an accountant, what software can’t do, and how to get the best of both worlds.
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bright ideas sole trader accountant



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