A sole trader is an individual that owns and runs a business. A sole trader is fully liable for any debts and contracts the business has and from a legal point of view there is no difference between the business and the individual.
Many people start trading as a sole trader because it is the most simplistic way to trade and then progress to operating through a limited company later on when the business starts to make reasonable profits.
At The Accountancy Partnership we can take care of all the accounting and taxation requirements of sole traders for a low cost monthly fee. We can help with registering the business and offer ongoing help and assistance going forward. We also regularly review your business to see whether it is operating in the most tax efficient way.
If you would like to know more about our sole trader accounting services then please contact us.