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What is a sole trader business?

A sole trader is the individual owner of a business which, unlike a limited company, is not legally distinct from its owner. It means that a sole trader is entitled to keep any after-tax profits they make, but also that they’re personally responsible for any debts.

You’ll need to tell HMRC about your profits, so that you pay the right amount of tax on your earnings.

Download our guide to learn more about operating as a sole trader, or talk to us about our online accountancy services for sole trader businesses.

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Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?

Yes
No

Call us on 020 3355 4047 if you’re not sure.