Trades work in and around Fulham
There is no shortage of work for good trades in SW6. Period houses in Parsons Green and around Eel Brook Common are always being rewired, replumbed, extended or redecorated. Flats in Chelsea and Kensington need regular maintenance, and letting agents along the main roads keep a list of trusted people for quick repairs. A lot of that work goes to sole traders and small firms with two or three people.
What most of them do not have is time for paperwork. You finish a job, drive home, and the last thing you want is to sort receipts. Our ACCA qualified accountants keep it simple. You send us your records in whatever form works, a photo app, a shoebox or spreadsheet, and we turn them into accurate accounts and a tax return filed well before the deadline.
Self assessment for sole trader trades
Most tradespeople start as sole traders. You register with HMRC as self employed, keep records of what you earn and spend, and file a return by 31/1 after the end of each tax year. Tax and National Insurance are worked out on your profit. Once your bill passes a certain level, you also make payments on account towards next year, due on 31/1 and 31/7.
That bill on 31/1 catches out a lot of people in their second year of trading, because it includes the full first year plus the first payment on account. We tell you in advance what is coming so you can put money aside.
What is included
- Registering as self employed with HMRC
- Annual accounts and self assessment returns
- CIS registration and refund claims
- Van, tool and equipment claims
- VAT registration and quarterly returns
- Domestic reverse charge invoicing help
- Making Tax Digital setup
- Advice on moving to a limited company
Vans, tools and other costs you can claim
The right expenses make a real difference to your tax. Your van can be claimed either through the actual costs, including fuel, insurance, repairs and a share of its purchase price, or through simplified mileage rates. Tools, power tools, ladders, workwear, safety gear and materials bought for jobs are allowable. So is your phone used for work, trade body membership, certification courses and public liability insurance.
Big purchases like a new van or expensive kit can often be written off against profit in the year you buy them, which helps when cash is tight. Some costs need care. Food on site, everyday clothing and private use of the van are not allowed, or only in part. We go through it with you once and then keep it consistent each year.
- Van costs or mileage
- Tools, equipment and materials
- Workwear and safety gear
- Insurance, certification and trade memberships
CIS for subcontractors
If you work for a builder or main contractor, you may be paid under the Construction Industry Scheme, or CIS. The contractor takes 20% off your labour if you are registered with HMRC, or 30% if you are not, and sends it to HMRC for you. That money counts towards your tax bill.
Because CIS is taken before any of your costs are allowed for, many subcontractors pay too much and are owed a refund. We collect your CIS statements, check them against your payments, and claim back any overpayment through your return. If you are not yet registered for CIS, we help you do that so you stop losing 30%.
VAT and when to think about it
You must register for VAT once your taxable turnover goes over £90,000 in a rolling 12 month period. For a busy electrician or plumber with good materials spend, that can come sooner than expected. Keep an eye on your total each month, not just at year end.
Once registered, some building work between VAT registered businesses falls under the domestic reverse charge, where the customer accounts for the VAT instead of you. Work for private homeowners in Fulham does not. We help you set up invoices correctly and pick a VAT scheme that suits how you work.
Sole trader or limited company
As your profits grow, a limited company can save tax and gives you some protection if things go wrong. It also brings company accounts, payroll for yourself and more rules about taking money out. For many trades the switch starts to make sense once profits are steady and you do not need to draw every penny. We work out the numbers with you so you know whether the extra admin is worth it.
Making Tax Digital for Income Tax now applies to some sole traders. From 6/4/2026 it applies if your qualifying income is over £50,000, from 6/4/2027 over £30,000, and from 6/4/2028 over £20,000. Qualifying income is your turnover, not your profit. We can get you onto a simple app well before you need it.
Who this suits
- Electricians and plumbers working for homeowners in Fulham
- Painters and decorators in South West London
- Carpenters, joiners and kitchen fitters
- Subcontractors paid under CIS by builders
- Small trades businesses with one or two staff
- Tradespeople who have fallen behind with their tax returns
Common questions
Can I claim my van as a business expense?
Yes, if you use it for work. You can claim actual running costs plus capital allowances on the purchase, or use simplified mileage rates instead. Private use must be taken out. We help you choose the method that suits you and stick to it.
How do I get my CIS tax back?
CIS deductions are offset against your tax bill when you file your self assessment return. If more was taken than you owe, HMRC repays the difference. Filing early in the tax year means you get it back sooner.
Do plumbers and electricians need to register for VAT?
Only once your taxable turnover goes over £90,000 in a rolling 12 months, or if you choose to register earlier. Materials you charge customers for count towards that total.
I have not done my tax return for a few years. Can you help?
Yes. We can rebuild your figures from bank statements and invoices and bring you up to date with HMRC. Coming forward yourself usually leads to a better outcome than waiting for HMRC to contact you.
Should a tradesperson set up a limited company?
It can make sense once your profits are steady and fairly high. It means more paperwork and different rules for paying yourself. We compare your tax both ways before you decide.
What records do I need to keep as a tradesperson?
Keep all invoices you send, receipts for materials, tools and fuel, CIS statements and your bank statements. A simple app on your phone works well. You must keep records for at least five years after the 31/1 filing deadline.
Do I need to tell HMRC if I take on a helper or apprentice?
Yes. If you pay someone as an employee, you need to register as an employer and run payroll, even for part time help. If they work for you as a self employed subcontractor on construction jobs, CIS rules may apply instead. We help you decide which is right and set it up.