Who is a sole trader?
A sole trader is an individual who sets up a business on their own (i.e the business is not incorporated). In running such business, a sole trader may employ other people but they remain the sole owner with unlimited liability.
You and your business are one and the same, so if anything goes wrong you’ll be personally liable for any debts.
Becoming a sole trader is easy, you only need to register with the HMRC within 3 months of starting your business to let them know you are working for yourself.
Our sole trader accounting and tax service
There are benefits to running your business a sole trader but it is daunting to be liable for your business’s debts if things don’t work out. Many Sole Traders later progress to operating through a limited company when they start to make reasonable profits.
Speak to us before you start for some free advice.
As a Sole Trader, your business income is counted alongside any other personal income you have for tax purposes, so accounting is relatively straightforward. We’ll help you fill out and submit your paperwork.
At Qorro & Associates, we monitor your business on a regular basis to ensure you are operating in a tax efficient manner, legally.
From the start, we help you get organised to run your business efficiently, keep you inform of upcoming changes and continually monitor your affairs to make tax saving recommendations based on your future goals.
To make sure we support you all the way, we take a holistic approach to offering our accountancy services. We have a network of trustworthy partners to recommend for your website, marketing, insurance and more., so you can buy wisely.
Our soletraders accounting and tax service includes
- Complete set of accounts
- Self-assessment returns
- Bookkeeping (online or offline)
- VAT Returns (if needed)
- HMRC investigations fee protection insurance
Why use us
Our priority is to put clients needs first, we seek to understand your business, so we can provide you and your business a first-class service. Our collaborative approach means we can offer each client timely advice on how to improve both your business and personal finances and maximise your take home pay.
In the event of a HMRC investigation we would represent you at no extra cost. We would fight your corner and ensure that HMRC receive only the money they are due and not a penny more.