Sole Traders

A sole trader is a self-employed individual who can either work on their own, or they can be a small business owner which is set up as the sole trader legal structure.
This means the individual who runs the business takes sole responsibility for any losses they suffer, but they can also keep all of their business’ profits after tax.

Greater liabilities for sole traders

Having sole responsibility also means you take on the liabilities of the business and you do not benefit from the protection offered by the structure of a Limited company.
For sole trader business, call 0333 3211 403 today.