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Registering a company

Do Sole Traders need to have an accountant?

While bookkeeping is about your financial records and ensuring you have a record of all your business costs, charges and expenses, accounting is the process of using those records to calculate your taxes, charges and to provide useful reports on how your business is doing.

Having an accountant isn’t necessary for Sole Traders, but they can be incredibly useful – not just to help you understand your finances, but to keep you compliant with HMRC too.

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