Business Articles
Sole Trader
Sole Trader means that you are fully responsible for your business. You take all the profits but you are personally liable for all the debts too.
Being a Sole Trader does not mean that you must work alone. You can hire employees.
You must advise Inland Revenue that you are a Sole Trader within three months of the last day of the month in which you start self-employment,
It is also adviseable to make contact with an accountant to work out which structure is best for your business.
Sole Traders can convert to Limited Companies and also form Partnerships at a later date.
Sole Trader
Being a Sole Trader does not mean that you must work alone. You can hire employees.
You must advise Inland Revenue that you are a Sole Trader within three months of the last day of the month in which you start self-employment,
It is also adviseable to make contact with an accountant to work out which structure is best for your business.
Sole Traders can convert to Limited Companies and also form Partnerships at a later date.
You must advise Inland Revenue that you are a Sole Trader within three months of the last day of the month in which you start self-employment,
It is also adviseable to make contact with an accountant to work out which structure is best for your business.
Sole Traders can convert to Limited Companies and also form Partnerships at a later date.
All articles reproduced with permission from This Is Your Business