Client is requesting to see my accounts - Sole Trader
Discussion
A client who has placed a decent size order with me that I am expecting payment on in the next few days has requested to see my accounts for the last two years.
Up until this week I've been operating as a sole trader below the VAT threshold and just simply submitting my self assessment return. This week I enrolled to be VAT registered, but still operating as a Sole Trader.
What 'account' information should I be showing them, I've not really got any profit/loss balance sheets for the last couple of years, something I will do from now on, and get an accountant.
I've no problem them knowing I'm a sole trader, what would be suitable account info to share?
TIA.
It's a large order, I have a PO from them for c.£35k. The client is a fairly decent size NPO and I am requesting payment up-front, or at least 50% which is what we're trying to agree on.
I am a re-seller and so using a few of my trade suppliers to fulfill the order and they require payment in advance as well but will look to agree 50% payment terms with them as well.
I'm speaking with their FD today, I've been pretty open with them about being a sole-trader/re-seller and at the end of the day all their items are coming from established and stable suppliers.
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