Sole Trader

Sole Trader

What being a Sole Trader means

Being a sole trader is generally regarded as being the simplest way to set up a business and has a number of advantages but also some disadvantages. A sole trader business is owned and run by one individual who is ultimately responsible for its success or failure, although a sole trader can employ others if they wish. As a sole trader you can keep all your business’ profits after all tax has been paid on them.

More information is available in the following pdf file for you to use.

What being a sole trader means document