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Sole Trader & Partnership Accounts
Self-employed accounts, without the January panic
Self Assessment, partnership returns and Making Tax Digital for Income Tax, handled for you and explained in plain English. Small business accountants, Cornwall.
Being self-employed means you are the business. Which is brilliant, right up until the point where the tax system expects you to also be the finance department.
Treninzo looks after sole traders and partnerships properly: your accounts, your Self Assessment return, your partnership return, your Making Tax Digital submissions. Prepared early, explained clearly, filed on time.
Making Tax Digital for Income Tax — where you stand
This is the biggest change to self-employed tax in a generation, and a lot of people still aren’t sure whether it applies to them.
Making Tax Digital for Income Tax (MTD for IT) went live on 6 April 2026 for sole traders and landlords with qualifying income over £50,000. The threshold drops to £30,000 from April 2027 and £20,000 from April 2028. So if you’re self-employed, it’s really a question of when rather than if.
What it actually involves:
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Digital record-keeping using MTD-compatible software. HMRC doesn’t provide a free portal for this.
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Four quarterly updates a year, due 7 August, 7 November, 7 February and 7 May.
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A Final Declaration by 31 January, which replaces the Self Assessment return you’re used to.
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Penalty points for late submissions, building towards a fine.
One thing that catches people out: qualifying income means your gross income from self-employment and property, before you take any expenses off. Not your profit. Plenty of people assume they’re under the threshold when they aren’t.HMRC should write to you when you’re in scope — but the responsibility sits with you whether that letter arrives or not. We’ll check your position, tell you your start date, get the software sorted and handle the submissions.
Partnerships
If you’re in partnership, you’ll need a partnership return as well as personal returns for each partner. We handle both, and we’ll make sure profit shares are allocated the way you actually agreed rather than the way it ended up on last year’s return.
MTD for Income Tax doesn’t yet apply to general partnerships — HMRC hasn’t confirmed a start date — but it’s coming, and we’ll flag it well before it lands.
More than filing
Before anything goes to HMRC, we’ll talk you through it. What you earned, what you owe, when it’s due, and what you might legitimately do differently. That includes the question a lot of sole traders ask eventually: would a limited company suit me better? We’ll give you a straight answer rather than a sales pitch.