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Accounting software for self-employed business owners

Q: What’s a sole trader?

As a sole trader, you’re the only one who runs and owns your business. This means that you’re entitled to keep all the profits it makes after tax has been paid, but you’re also liable for all losses.

Q: What’s a limited company?

A limited company is a legal business structure in which the business is a separate entity with a director, employees and/or shareholders. It varies from other legal forms, like sole trader or partnership, This means it has its own structure, business liabilities, set-up, tax liabilities and financial reporting requirements.

Q: How do I register as a sole trader or limited company?

You can register as a sole trader or a limited company with HMRC online. You’ll need to provide some personal and business information, like your National Insurance Number. When you register as a sole trader, you’ll have access to online services from HMRC. If you’re registered for VAT you can easily connect your HMRC account to QuickBooks to submit your VAT returns online.

Q: What do I need to keep track of as a sole trader?

You need to keep a record of the following:All sales and incomeAll business expensesVAT records (if you’re registered for VAT)PAYE records (if you employ people)Records about your personal incomeYour grants (if you claimed through the Self-Employment Income Support Scheme)When you submit your tax return, you do not need to send in your records. But, you do need to keep them so you can calculate your profit or loss for your tax return and to show HMRC (if requested). These records must be accurate.This doesn’t have to be daunting. QuickBooks can help you keep a record of it all, reduce mistakes and increase accuracy with our VAT error checker–all in one place. Let us help you do your tax returns with confidence.

Q: Does QuickBooks accounting software come with a free trial?

Yes, you can try QuickBooks' online accounting software for free for one month, or benefit from special discounts if you purchase straight away. Start your free trial now or see the latest pricing offers.

Q: Would having an accountant be helpful to me as a sole trader or a limited company?

An accountant or bookkeeper can help support the success of your business so we’d advise working with one if you can. If you don't already have one, search QuickBooks ProAdvisor to find a certified accountant or bookkeeper who’s eager to assist you with using QuickBooks.

Looking for self-employed accounting software? Keep on top of your transactions, and track business performance on the go. QuickBooks helps you prepare for your Self Assessment tax return with confidence.

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Non-VAT registered

Sole Trader Plus

Handle your business

GET MTD READY FOR LESS

1 user

Plus access for your accountant

Top Features:

Intuit Intelligence

AI-powered bank feeds

Boosts efficiency by organising transactions for your review.

Prepare for Self Assessment

Making Tax Digital for Income Tax ready

Send invoices & estimates

Get cash flow insights

Manage receipt capture & mileage tracking

Free onboarding session

Income and expenses

Invoice and payments

VAT registered

Simple Start

Build your financial foundation

GET MTD READY FOR LESS

1 user

Plus access for your accountant

Everything in Sole Trader Plus, and:

Intuit Intelligence

VAT AI

Flags differences between P&L and VAT reports with recommended corrections.

Making Tax Digital for VAT and Income Tax ready

Non-VAT registeredNon-VAT registered

Sole Trader Plus

Handle your business

GET MTD READY FOR LESS

VAT registeredVAT registered

Simple Start

Build your financial foundation

GET MTD READY FOR LESS

Intuit Intelligence

Accounting AI

— AI-powered bank feeds

— AI-powered collaboration

— Anomaly detection

VAT AI

Customer AI

Finance AI

Project Management AI

Accounting

Income and expenses

Automated bookkeeping

Prepare for Self Assessment

MTD for Income Tax ready

Calculate and submit CIS

Manage and submit VAT to HMRC

Automated bank feeds

Revenue recognition

Auto-track fixed assets

Expenses

Receipt capture

Mileage tracking

Manage bills

Sales and Get Paid

Send estimates

Invoice and payments

Recurring invoices

Customer Hub

Customer management

Notes and tasks management

Reputation management

Appointments

BETA

Lead management

Contract upload and e-signature

Proposals

BETA

Time

Enter time

Project Management

Project profitability

Project management

Inventory

Purchase orders

Sales orders

Business Intelligence

Cash flow planning

Budgeting

Forecasting

Custom report builder

Spreadsheet sync

Connected Platform

Users

Chart of accounts

250

Mobile app

Integrate with hundreds of apps

Reports

User management and permissions

Custom fields

Class and location tracking

Workflow automation

Batch invoices and expenses

Backup and restore

Premium support

Never feel outnumbered

Passionate about your business, but not about accounting? Manage expenses, prepare Self Assessment, submit VAT and send invoices that get paid fast with us.

Self Assessment? We can help

QuickBooks will help you prepare for Self Assessment by estimating your income tax using the transactions you've categorised. You'll be ready to file your return to HMRC with confidence.

Invoice on the spot

Customer, product and VAT info is automatically added using details already uploaded so you can send invoices from anywhere, in a matter of seconds. Know instantly who’s paid invoices and who hasn’t with real time alerts.

More ways to get paid

Speed up the process and get paid without sharing your bank details. Our low cost options include a contactless card reader, Direct Debit collection and invoices that can be paid in a couple of clicks.

Spend less time on admin

Securely connect your bank and save time when your bank transactions are instantly pulled into QuickBooks and reconciled for you.

Snap receipts and bills

Whether you’re driving out to jobs, taking clients out to lunch or paying suppliers internationally – whatever your life looks like, we make it easy to track expenses. Use the QuickBooks app to snap receipts and track mileage on the go.

All this and more. Explore all our features

View features and plans

Get up and running with free support

Check out our short video tutorials and jargon-free guides, or contact our award-winning team of experts. Live chat, screen sharing and phone support are available free of charge.

New to QuickBooks? Once you've signed up, book a free 45 minute onboarding session* with one of our experts. They'll walk you through key features and answer your questions - your welcome email has all the details.

Learn more

*Not available for the QuickBooks Sole Trader plan

Buy now and save

We know everyone’s concerned about rising costs right now, and we don’t want to add to the burden. Take control of your business finances with QuickBooks today and save with our limited time deal.

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Frequently asked questions

What’s a sole trader?

What’s a limited company?

How do I register as a sole trader or limited company?

What do I need to keep track of as a sole trader?

You need to keep a record of the following:

All sales and income
All business expenses
VAT records (if you’re registered for VAT)
PAYE records (if you employ people)
Records about your personal income
Your grants (if you claimed through the Self-Employment Income Support Scheme)

When you submit your tax return, you do not need to send in your records. But, you do need to keep them so you can calculate your profit or loss for your tax return and to show HMRC (if requested). These records must be accurate.

This doesn’t have to be daunting. QuickBooks can help you keep a record of it all, reduce mistakes and increase accuracy with our VAT error checker–all in one place. Let us help you do your tax returns with confidence.

What type of tax do I need to pay as a sole trader or limited company?

As a sole trader, you’ll need to pay Self Assessment Income Tax and Class 2 National Insurance. You may also need to pay Class 4 National Insurance depending on your income. QuickBooks’ simple sole trader accounting software can automatically work out how much you owe.

As a limited company, you’re always liable for Corporation Tax on your profits. On top of that, you may need to pay VAT, deduct Income Tax and National Insurance via payroll software, pay tax on dividends, pay capital gains tax and register for Self Assessment. Let QuickBooks collect all the data you need while a registered accountant helps you make the relevant adjustments, calculations and submissions.

What are the basic accounting features I need as a sole trader or limited company?

As a sole trader, you’ll want accounting software that can help with basic tasks like tracking time, sending invoices, managing expenses and submitting your tax returns in line with the most up to date Making Tax Digital regulations.

As a limited company, you need access to accounting features such as Payroll and financial reporting. You may also want to be able to add additional users to your accounting software so you can collaborate on your books. And while you’re running your business, you’ll want your software to keep track of all the data you need to prepare your tax returns, such as Income Tax and capital gains tax.

What’s the best online accounting software for sole traders and limited companies?

If you’re a sole trader, the best accounting software is one that allows you to manage your finances on the go, from any device. Cloud accounting software like QuickBooks Online allows you to send invoices, track expenses, calculate tax and see how your business is doing in real time - all in one place.

If you’re a limited company, you want accounting software that’s simple to use, yet advanced enough to meet your accounting needs. QuickBooks accounting software for small limited companies has all the features of advanced accounting software, but with no added complexity. Discover what it feels like to manage all your business finances, in one single place.

Does QuickBooks accounting software come with a free trial?

Can I do my own accounting as a sole trader or a limited company?

You’re not required to use an accountant–you can simply file your own taxes. If you’re diligent about keeping track of your finances and invoices, filing your taxes on your own doesn’t have to be daunting – especially with the help of accounting software like QuickBooks. QuickBooks can help you stay on top of your books as well as send invoices, track expenses, prepare self assessment, calculate VAT and see how your business is doing in real time–all in one place.

Would having an accountant be helpful to me as a sole trader or a limited company?

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Important offers, pricing details and disclaimers

QuickBooks Making Tax Digital for VAT software is available to all QuickBooks Simple Start, Essential, Plus and Advanced subscribers. Use of QuickBooks MTD for VAT software and bridging software must be aligned with HMRC’s eligibility requirements and includes additional setup between the small business and HMRC.

QuickBooks MTD software currently supports Standard, Cash and Flat Rate schemes. QuickBooks Bridging Software supports Standard and Cash schemes. Businesses whose home currency is not GBP are currently not supported.

*Offer terms

QuickBooks Online Discount Offer Terms: Receive the discount stated above on the current monthly price for QuickBooks Online Sole Trader Plus, Simple Start, Essentials, Plus, Advanced, Payroll Core, Payroll Premium or Payroll Elite for the stated amount of months of service, starting from date of enrolment, followed by the then-current monthly price. Your account will automatically be charged on a monthly basis until you cancel. You must select the Buy Now option and you will not be eligible for a 30-day free trial. Offer valid for new QuickBooks Online customers only. No limit on the number of subscriptions ordered. You can cancel at any time by calling 0808 258 8107. Discount cannot be combined with any other QuickBooks Online offers. Terms, conditions, features, pricing, service and support are subject to change without notice. All prices shown exclude VAT.

Mobile apps: The QuickBooks Online mobile and QuickBooks Self-Employed mobile companion apps work with iPhone, iPad, and Android phones and tablets. Devices sold separately; data plan required. Not all features are available on the mobile apps and mobile browser. QuickBooks Online mobile access is included with your QuickBooks Online subscription at no additional cost. Data access is subject to cellular/internet provider network availability and occasional downtime due to system and server maintenance and events beyond your control. Product registration required.

Cancellation Terms: To cancel your QuickBooks Products subscription at any time go to Account & Settings in QuickBooks and select “Cancel.” Your QuickBooks Products cancellation will become effective at the end of the monthly billing period. You will not receive a pro-rated refund; your access and subscription benefits will continue for the remainder of the billing period.

**Products and features

Intuit Assist features may differ based on product. Not available with QuickBooks Sole Trader or QuickBooks Self-Employed.

Intuit Assist and certain other AI features are currently available at no additional cost at this time. Pricing, terms, conditions, and service options are subject to change without notice.

AI Agents (excl. VAT AI Agent): While available in all QuickBooks supported languages, the AI agent's output are currently in English-only. We recommend you review all outputs carefully.

Finance Agent: Available on QuickBooks Online Advanced only. Not available to customers with multi-currency enabled.

Beta features: Beta features have very limited availability and are subject to change. Features may be more broadly available soon.

Third party apps: Third party applications available on apps.com. Subject to additional terms, conditions, and fees.

QuickBooks Advanced Payroll: QuickBooks Advanced Payroll allows you to automatically submit information to the following pension providers: NEST, The Peoples Pension, Smart Pensions, Aviva and NOW:Pensions.

QuickBooks Payments: QuickBooks Payments allows you to access and use payment services which are provided directly to you by Adyen NV. Adyen NV is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN: 779800).

Free onboarding: Free onboarding sessions are offered to all newly subscribed customers and trialists. We offer 1 session per customer and reserve the right to remove this offering at anytime. Invitations are sent via email and in-product messaging once signup has been completed. A link will be included in the message for you to book a session using our calendar tool.

Mileage tracking: Mileage tracking is available on QuickBooks Online on iOS and Android only.

VAT: Both the VAT error checker and VAT submission directly to HMRC functionality are not available in the QuickBooks Sole Trader plan.

Cash flow insights: Does not support multi-currency.

The user experience videos are for information purposes only and should not be considered legal, accounting, or tax advice or a substitute for obtaining such advice or research specific to your business. Additional information and exceptions may apply. No assurance is given that the information provided or shared in the videos are comprehensive, accurate or free of errors. Intuit does not have any responsibility for updating or revising any information presented or shared in the videos herein. Viewers should always verify statements before relying on them.

These terms apply to QuickBooks UK customers only. Bulk-pricing discount offer is valid only if you are signing up for more than one QuickBooks Online subscription with each order. View terms and conditions for multiple accounts pricing here. To inquire further about the bulk-pricing discount offer, please call 0808 304 6358.

This information is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchasing decision. Additional terms, conditions and fees may apply with certain features and functionality. Eligibility criteria may apply. Product offers, features, functionality are subject to change without notice.

QuickBooks UK support hours:

QuickBooks Online Phone–Monday to Friday 8.00 AM to 7.00 PM
QuickBooks Online Live Messaging–Monday to Friday 8.00 AM to 10.00 PM, Saturday and Sunday 8.00 AM to 6.00 PM
QuickBooks Self-Employed Live Messaging–Monday to Friday 8.00 AM to 10.00 PM, Saturday and Sunday 8.00 AM to 6.00 PM

#Claims

# Millions of customers worldwide: Based on number of global QuickBooks subscribers.