If you are thinking of setting up your own business – a sole trader is a great way to start. There are no registration fees for setting up as a sole trader, and are generally registered as self-employed with HM Revenue & Customs. This means that you will be required to submit self-assessment tax returns without filing annual company accounts to Companies House.
As a sole trader you will have complete control of your business and how it functions – however this does not go without risk. Sole traders are personally responsible for any debtsor liabilities and we advise to take caution in running your business’ cash flow to ensure your home or assets are not at risk.
As a sole trader you will want to focus on building your business, with all the complexities of legislation and constant changes we ensure you have captured all expenses that you are entitled to, minimising your tax liability.
Whether you just need advice, annual tax returns or a more bespoke package such as bookkeeping, monthly management accounts and VAT returns, we offer a service to suit you at a very attractive cost, initial consultation is free and no obligation.