Sole Trader Services FAQs

Please find below our most frequently asked questions. Use the links below to jump to the section you are most interested in. If there are any questions you would like to ask personally please call us free on 0800 195 3750 or email info@ics.me.uk

  • How do I get started with the sole trader service?

    Our registration process is simple and can be done electronically, or by telephone. We require the following information, either by fax, post or scanned and attached to an email:

    • Completed ICS Sole Trader Personal Details form
    • Copy of the photo pages of your passport or your photo driver’s licence
    • Copy of a valid work visa/permit (if applicable)

  • Can I submit expenses?

    Expense claims which are chargeable to your client are usually completed following their own processes. It is your responsibility to ensure that these are approved and submitted according to the processes outlined in your contract.

    Expense claims that are not chargeable to the client may be offset against your income to reduce your tax liability. We recommend that you keep detailed records and receipts in respect of your costs.

    Please forward copies of all expense claims by email or fax to us at:

    You will appreciate that delays in submitting this information may lead to a delay in payment of invoices and receipt of cleared funds.

  • Can I get same day transfers?

    Yes we do use same day transfers at no extra cost to you.

  • How do I prove my earnings if I want to apply for a mortgage?

    We can provide you with the necessary documentation in this respect and indeed put you in touch with specialists who facilitate mortgages for sole traders.

  • What happens at the end of the tax year?

    If you are required to submit a tax return, we will provide you with a schedule of income and expenses that we are aware of. We can arrange for your tax return to be completed. Please contact us for details.

  • How do I register?

    Simply call us on our freephone telephone number 0800 195 3750. We will complete the application form with you in a matter of minutes and send you the details that you need to sign and return via email. Naturally we are happy to answer any questions that you may have.

  • What do I do if I wish to leave you or my circumstances change?

    Once you have informed us that you are leaving, we will collect all outstanding funds and make a final payment to your bank account.

  • Do I get tax relief on your four services?

    Yes, you can offset the costs of using our sole trader service when you submit your annual tax return. We can help you with this for an additional fee.

  • Can I work on more than one contract at the same time?

    Yes, you can work on multiple contracts at the same time at no additional cost.

  • How do I know when I’ve been paid?

    On the same day we process your payment, we will email you.

  • What tax do I pay?

    As a sole trader you incur Income Tax and National Insurance liabilities. We pay you Gross after the deduction of our fees, so you are responsible for payment of all taxes to HMRC. We can help you with this if required and you can ask us to complete your tax returns.

  • Will I need to keep receipts?

    Yes, it is very important that you keep receipts for any expenses, including fuel receipts for mileage and for any subsistence during the day. If you are found to have claimed expenses that don’t have a corresponding receipt, you may be penalised by HMRC for doing so, as well as any additional penalties HMRC may impose.

  • Do you complete my tax return?

    This is an additional service that we can undertake for you at a cost of £150. Simply discuss your requirements with us.

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