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Home»Sole Trader»Where to startStart up & Newbie Sole Traders
Sole Trader

Where to start
Start up & Newbie Sole Traders

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Newbies!

We’ve mapped out the important stuff you need to read from deciding on your business structure through to how to keep your books, what costs you can claim, what to file & when, important deadlines and how to pay yourself.

This is a great starter and a useful page to bookmark!

To read each article click on “continue reading”.

What business structure? Sole Trader or Limited Company

Best advice – keep it simple.

Go for a Sole Trader structure unless you need or want limited liability or need to operate as a limited company because your end client wants or forces you to!

What business structure? Sole Trader or Limited Company

Doing the books explained!

Find out how to do the accounting for your business easily including what system to use (including a recommendation for a best of breed FREE one!), understanding the transactions and the regular routine to follow to keep things on track.

Doing the books explained!

Sole Trader Basics

The life of a sole trader is relatively simple and straight forward when it comes to the set up and regulations. This explains it all ….

Sole Trader Basics

Sole Trader – Accounts, Tax and Deadlines

Almost all businesses, regardless of size, have to prepare accounts and file tax returns. Find out what you have to file and when.

Sole Trader – Accounts, Tax and Deadlines

What Costs can you claim

The first, and main, rule on costs, and a question that should become second nature to you, is:

“Was the cost incurred wholly and exclusively for business purposes?”

What costs can you claim?

How to pay yourself

No matter what business structure you choose to operate your business through the ultimate aim must be to make a profit so that you can pay yourself something out of the business to live on

How to pay yourself

How to pay yourself – Sole Traders have Drawings

Drawings are not an allowable cost for tax.

How to pay yourself – Sole Traders have Drawings

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Useful Stuff!

Keep your address up to date with HMRC and Companies House

What to do if you’re in a mess

Essential Tool for Umbrella Contractor

Paying Your Tax Bill

Practice Safe Tax

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