A Sole Trader is someone that has set up a business and operates it without a partner. The business is not set up as a limited company and is operated in a self employed capacity.

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Sole Traders need to keep good records of the money they receive and the costs they have against the business. Payments of income tax are normally paid twice a year at the end of January and again in July.

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Sole Traders need to complete a self assessment and this has penalty fees associated with it if submitted late.

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If you reach the threshold for VAT, registration will be necessary with the standard quarterly payments.

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If you are one of the thousands of people that are driven, determined to make your own mark with your business venture but are confused and frustrated by the medley of red tape - pass it over to a friendly team like us. No nonsense, straight talking accountants that like to smile, enjoy their work and who allow you to free up your time so you can get on with running your business and earning money.