To be a ‘sole trader’ means that, rather than setting-up a limited company (such as ‘Joe Bloggs Ltd’), you work for yourself (for example, ‘Joe Bloggs trading as J.B Associates’).
Due to the fact that there’s no complex form-filling involved in getting your business up and running, working as a sole trader is usually most people’s first experience of self-employment. Plus, in many cases, it’s fairly easy to fit self-employment around your main job.
Lots of contractors, freelancers and consultants work as sole traders. You don’t need to open a separate bank account (although it does help) and there are fewer procedural hurdles to overcome. Your main responsibility is to ensure that your accounts are up-to-date so that you’re constantly one step ahead of the taxman.
This is where we come in. Our team will take care of all your daily invoicing and bookkeeping needs, so you have the peace of mind knowing that we’re always on top of your accounts. All we ask is that you record and keep track of your expenses and let us know which invoices you’d like us to raise. We’ll do the rest.