Automate time-taking tasks
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Paperless Invoicing
Moneypex can help businesses to eliminate paper invoices and cheques. Going paperless reduces many onerous tasks.
Highly Flexible
Moneypex connects departments and finances for efficient operations. The real-time data keep everyone in one place.
Complete Expense Tracking
Monitors business detailed reporting and statements. Even keep detailed previous records to keep you in tax season.
Simplify Billing
Revamp your business billing with best accounting software for sole traders.
Moneypex handles invoicing, due and paid amount records, and automated payment reminders professionally.
All of your bank and credit card transactions are synced with Moneypex, allowing you to keep track of your earnings and expenses with ease.
Forecast Your Cash Flow
Experience the easiest way to forecast your cash flow.
Cash flow predictions based on regular expenses and transactions give a view into the future.
Moneypex's financial reports illustrate the profitability, cash flow, and overall performance of your business.
Manage Suppliers & Manufacturers
We help you create a better relationship with your suppliers & manufacturers.
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Keep detailed records of paid or due payments and stocks, plan supplier advances, and more.
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Automating invoice handling and payment helps businesses maintain healthy supplier relationships with on-time payments.
Tackle Tax Time
Making your tax life easier with valuable features.
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Accounting software for sole traders in UK to assemble a self-assessment tax return with confidence by keeping each and every track of your transactions.
All tax deductions are automatically calculated. You'll have exact figures of VAT to submit to HMRC in UK.
Believe Words of Our Customers
Maaz Sajid
Trustpilot
I am using this software for my bookstore to keep track of my expenses and budget. I love it!
Muhammad Sabeel
Trustpilot
I can make free invoices with moneypex and that saves me huge costs over Quickbooks.
Robert Jackson
Trustpilot
Moneypex is easy, affordable and files my tax in a breeze with HMRC. I love it!
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FAQs
Sole traders pay tax on self-employment income. You pay income tax based on the profitability of your business. Every UK citizen gets a tax-free exemption before their income is taxed, so deduct it from your total income to calculate your taxable income.
You'll have to pay “Self Assessment Income Tax” if you're a sole trader. Currently, in UK, you have to pay income tax of “Class 2 and 4 National Insurance” on all of your business profits that are taxable.
Moneypex accounting software for sole traders can assist you to do basic things like tracking performance, sending invoices, keeping track of expenses, and filing your tax returns to HMRC in line with the latest Making Tax Digital rules in UK.
Both terms are often used interchangeably, but there is a slight difference between the two. A sole trader is someone who works for himself, but not everyone who works for himself is a sole trader.