Jarrow
Jarrow
Newcastle
South Shields
0191 420 0550 172-174 Albert Road, Jarrow, NE32 5JA info@kpsimpson.co.uk
0191 420 0550 4 Saint Mary's Terrace, Newcastle upon Tyne, NE2 4PS info@kpsimpson.co.uk
0191 455 0518 171 Sunderland Road, South Shields, NE34 6AD info@kpsimpson.co.uk

Annual and Rental Accounts

How can we help?

Annual and Rental Accounts

Sole Trader account:

Sole trader accounts are the most common accounts for the self-employed. These are one-man-band businesses which need to do accounts once a year with the majority going for a year end of 5th April. At KP Simpson we can assist you in completing the accounts in a timely and professional manner for all different business sectors with a personal one to one meeting to make sure all aspects and expenses have been taken in to account to mitigate as much tax as possible. Staying on the right side of the tax man is always a good idea, so we can ensure that there are no grey areas and advise you what is taxable and what isn’t.


Rental account:

Rental accounts are needed to be done if you rent one or more properties and as such, the owner must be entered in to self-assessment. The accounts need to be prepared in line with the tax year end, 5th April.

KP Simpson can help take all the stress away, as being a landlord is stressful enough, we can also advise on the many misconceptions about what you can claim against the property and what you can’t.

New tax rules that became effective from 6th April 2017 restricting the amount of interest that can be claimed for higher rate earners is only another reason to seek professional advice from KP Simpson in-house accounting team.


Partnership account:

Partnership accounts are very similar to sole traders however they have more than one proprietor and as such need to produce partnership accounts and distribute profits to the owners based on the profit share decided on when setting up. Once this is done, the individual will need to report this on their self-assessment tax return.

KP Simpson can help with all the aspects relating to the partnership from deciding which profit share will be the most tax efficient to completing and filing the return.

How KP Simpson can help

At KP Simpson, we support clients through every stage of MTD.

We can:

  • Set up your accounting software
  • Manage your quarterly submissions
  • Ensure you remain fully compliant
  • Provide ongoing support and advice

Our goal is simple: make MTD as easy and stress free as possible.

Need help with MTD?

If you’re unsure whether MTD applies to you, or want to get ahead before April 2026, get in touch with our team today.

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    Chris Barr profile picture
    Chris Barr
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    Alex and the KP team are personable and offer a fantastic service. They will go above and beyond to assist in both business and personal accountancy matters. We have used KP for many years and would highly recommend their services to others
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    Emily Hunt profile picture
    Emily Hunt
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    I can’t recommend them highly enough. As a small business owner, finances can feel overwhelming, but they make everything straightforward and stress-free. They’re always quick to respond, incredibly knowledgeable, and genuinely supportive. It’s reassuring to know my accounts are in safe hands, and their advice has been invaluable for helping my business run smoothly. A fantastic accountant and a pleasure to work with.
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    Jason Olley profile picture
    Jason Olley
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    Over the years I have used several Accountants, however, recently I have used KP Simpson, Dawn in particular. Dawn has been absolutely amazing, promptly answering emails, providing clear and concise guidance, which ultimately prompted myself to act. Dawn's knowledge of taxation is incredible, moreover, I certainly would not hesitate recommending Dawn @ KP Simpson to my clients going forward. Thank you so much.
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    Jeff O'Brien profile picture
    Jeff O'Brien
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    After 14 years of exceptional service and support, I want to extend my heartfelt thanks to Andrew, Dawn, Alex and everyone at KP Simpson. During the time with them, they have been a constant source of support, patience, and trust — qualities that have meant the world to me. Now that I’ve retired, today marks what could be one of my final interactions with a team I trust implicitly. Over the years, I have recommended KP Simpson countless times, and I’m delighted to know others who now benefit from their outstanding expertise and dedication. So, to close — a big thank you from me, and my very best wishes for the future. I have no doubt KP Simpson will continue to go from strength to strength. Trust. Patience. Support. Three words that truly define KP Simpson.
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    Rui Fontoura profile picture
    Rui Fontoura
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    First class account service, always ready to attend your needs. Highly recommended!
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    Elaine profile picture
    Elaine
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    We have been with KP Simpson for over two years. They are professional, friendly and very patient. Special thanks to Charlotte who is always so helpful and quick to respond to queries and all the team who work with her. Thanks 😊
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    Freddie Seferi profile picture
    Freddie Seferi
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    The best thing we ever did with changing accountants to Kp Simpson. They are absolutely fantastic The support is incredible and they deal with all of our queries efficiently. They introduced us to Software, which has reduced our bills considerably and took away the need for bookeeping, we have saved a lot of money as the previous accountants we used was extortionate. I highly recommend Andrew and his team at Kp Simpson.
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    Brent Ganley profile picture
    Brent Ganley
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    I have been working with Andy and his team for almost 15 years and could not recommend a company higher.
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