How Do I Register as a Sole Trader?

Fancy launching a new business? Many people set up as a sole trader to begin with as it’s quick, easy and cheap to do. But what should you consider, and how do you actually register? Don’t worry, that’s not us asking you – let’s take a look. What is a sole trader? Being a sole…

What Taxes Do Sole Traders Pay?

The simplicity of running a business this way means it’s no surprise that setting up as a sole trader is one of the most popular business structures in the UK. But where do sole traders stand when it comes to paying taxes? We’ll take a look at what you need to pay as a sole…

Bookkeeping for sole traders and partnerships

Bookkeeping for Sole Traders and Partnerships

Bookkeeping for sole traders and partnerships doesn’t have to be difficult, but there are things to be aware of before you start your business life. If you get the numbers wrong it can be embarrassing to say the least, but mistakes have even more significance than that. If you submit incorrect accounts to HMRC, don’t…

Making_the_Switch_from_a_Sole_Trader_to_Limited_Company

Making the Switch from a Sole Trader to Limited Company

Some people operate their businesses as a limited company right from the get-go, but many also start out as a sole trader or partnership first and then incorporate (register as a company) later. So, if you’re thinking about becoming incorporated, what kind of things should you consider? For most people it’s a scary sounding step,…

How Do I Claim Business Expenses as a Sole Trader?

How Do I Claim Business Expenses as a Sole Trader?

As a sole trader, you’ll be used to handling everything yourself. From marketing to sales, and everything in-between, it’s down to you. It means that you’re also liable for everything financially, including those tax bills. That’s where expenses come in. It might not sound very exciting, but keeping track of your expenses can significantly reduce…