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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
tax gap self employed

HMRC’s new ‘tax gap’ report – what it means if you’re self employed

June 23, 2025
In June 2025, HMRC published new figures on the UK’s tax gap, which show that self employed people are a key part of the story.
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making tax digital for income tax self employed

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

February 4, 2025
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.
Read More
quickbooks intuit accountant sme

UK SMEs that hire accountants report higher revenue and lower stress levels

November 19, 2024
An interesting new study shows that small firms that use accountants boost their revenues by 11.5% on average. They also report lower stress levels!
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late payment safe collections

Late payment debt recovery service for ByteStart visitors (with Safe Collections)

October 8, 2024
Struggling with late payment? ByteStart visitors get exclusive rates with Safe Collections – no upfront fees, free claim review, and fast results.
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self employed accounts

Setting up accounts if you’re self-employed – a beginner’s guide

January 24, 2024
If you start a business as a sole trader, you need to set up an accounting system to record your income and expenses, and work out how much tax to pay.
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cashflow forecast

Why you need a cash flow forecast, how to produce one + downloadable templates

October 8, 2023
One of the most useful pieces of advice that established entrepreneurs give to people starting their own businesses is, ' Cash is king.’ It doesn’t matter what business you’re in…
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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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