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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
  • Can you run your business just with Xero?
  • 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
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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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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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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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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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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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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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accountant mistake tax return

What happens if your accountant makes a mistake on your tax return?

July 16, 2025
If your accountant makes a mistake on your tax return, HMRC will hold you responsible. Here’s what to do, how to challenge penalties, and protect yourself.
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How to switch accountants as a sole trader (without the stress)

July 16, 2025
How to switch accountants as a sole trader – what to check, how the process works, and tips for choosing the right new accountant.
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How to write a quote email – template for sole traders and freelancers

July 15, 2025
How to respond to client enquiries with a clear quote. Includes a free email template for sole traders, freelancers and small business owners.
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