• info@totaltaxaccountants.co.uk
  • 01494 264826
  • info@totaltaxaccountants.co.uk
  • 01494 264826
Accountants High Wycombe
Accountants High Wycombe

Sole Trader — Quarterly Update

New Company Formation

Use this form to send us your quarterly figures for your sole trader business. Tell us the turnover and other business income received, together with allowable expenses such as materials, subcontractors, motor and travel costs, premises, insurance, professional fees and bank charges for the period. Add a note about anything unusual, such as a large one off purchase or a bad debt. Submit within two weeks of each quarter end and we will file your update with HMRC under Making Tax Digital for Income Tax, then confirm once it has been accepted.
By Total Tax Accountants

Sole Trader — Quarterly Update Form

Section 1: Your Details

Your 10-digit UTR — shown on your HMRC correspondence
Choose the standard quarters unless we have told you that you use calendar quarters.
e.g. 6th April etc.
e.g. 5th July etc.

Section 2: About Your Business

A short description of your trade
One form per business: HMRC needs a separate quarterly update for each business you run. If you have two trades, please complete this form twice — once for each.

Section 3: Income

Enter the totals for this quarter only. If you had nothing under a heading, enter 0.
Takings, fees, sales or money earned by the business this quarter
Business income not included in turnover
Tax deducted at source, including CIS deductions suffered

How would you like to report your expenses?

Consolidated expenses are only available to businesses below the VAT registration threshold. If you are unsure, choose Itemised and we will advise you.
If you chose Consolidated, complete this box only and skip the expenses section (the section below):

Section 4: Expenses

Only complete this section if you chose “Itemised” above
Stock, raw materials and the direct cost of what you sell
CIS subcontractor payments
Employee wages, employer NIC, pensions, casual labour
Fuel, vehicle running costs, mileage, rail and air fares, business parking
Business premises rent, business rates, utilities, insurance
Maintaining and repairing business property, tools and equipment
Telephone, internet, postage, printing, software subscriptions
Marketing, advertising and website costs
Entertaining clients or suppliers — normally disallowable in full
Interest paid on business borrowing
Bank charges, card processing fees, leasing charges
Bad debts formally written off this quarter
Professional fees, including ours
Accounting depreciation and asset disposals — normally disallowable in full
Anything else allowable, please describe in the notes box

Section 5: Your quarter at a glance

Section 6: Supporting Information

Click or drag a file to this area to upload.
Accepted: PDF, CSV, XLSX, JPG, PNG

Declaration

Please read this carefully before you tick I confirm that the information I have provided in this form is, to the best of my knowledge and belief, complete, correct and accurate for the quarter stated. I understand that Total Tax Accountants will rely on this information to prepare and submit a quarterly update to HM Revenue & Customs on my behalf, and that I remain responsible for the accuracy of my tax records. I will notify Total Tax Accountants promptly if I become aware of any error or omission. By submitting this form, you agree to out terms & conditions.
Typing your name here has the same effect as signing

What happens when you press Submit

Nothing is sent to HMRC at this point. Your figures come to Total Tax Accountants. We check them, prepare your quarterly update and file it with HMRC using MTD-compatible software. You will receive a confirmation email with a reference number. If we need anything further, we will contact you before we file.

About Us

Leading Accountants High Wycombe and the surrounding areas.

Total Tax Accountants ® (Reg Trade Mark)

Trade name of Total Tax Accountancy Ltd

Member In Practice Firm AAT & IFA in UK

Approved Firm by ACCA Employer in UK

Office Address
30 High St, High Wycombe HP11 2AG

  • Companies House # 11058594
  • VAT Reg # GB 347527578
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