Bear in mind that if you’re selling services online, you’ll be required to show a correspondence address to your customers. This doesn’t have to be the same address you used when setting up as a sole trader, but it may make sense to use the same address throughout your business’s...
The number of people working for themselves continues to rise and becoming a sole trader is the easiest way to do it. There were around 450,000 sole traders in the UK in 2018, according to the Office for National Statistics (ONS). This is fewer than in 2008 when there were 548,000, ...
To invoice as a sole trader, you need to outline the services you provided, the price you’re charging and how the client should pay you. The invoice notifies the client that payment is due for the products and services that you’ve performed.An invoice is a commercial instrument issued by...
Being a sole trader is different from being a company owner, as there’s no legal distinction between you and your business. This means you’re personally responsible for any debts or losses incurred by your business. It also means you get to keep all the profits after tax – unlike in a...
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To set up as a sole trader, generally you’ll need to register for tax self assessment with HMRC. You’ll need to provide¹: Your own personal and contact information Your National Insurance number Your business name To register a partnership, you’ll also need to get in touch with HMRC...
If you’re an entrepreneur getting ready to incorporate a company in the UK, you’re in the right place. Starting a business can be difficult and confusing so,...
Starting a window-cleaning business can be a rewarding way of becoming your own boss while enjoying physical outdoor work. In this article, you will find out how to register, fund and market your company as part of a step-by-step guide to setting up your window-cleaning business. ...
if you decide to trade a sole trader you will essentially be classed as ‘self-employed’. In this guide on how to register as a sole trader, you will be made aware of all the relevant taxes, optional taxes you can register for and how to actuallly set up as a sole trader/ sel-em...
Any sole trader is going to have to perform some strict accounting in order to ensure that their business is performing well and that the cash that they earn is trickling through to their personal lives with the least possible obstruction. You need a set of monthly and yearly accounts to kee...