The main advantage of running a business as a sole trader is the amount of paperwork is less than registering a company or a partnership and there is no need to comply with the rules set by the Companies House as you are running the company as an individual rather than as a legal entity.

Also, no corporation tax needs to be paid as it is not necessary for the business to be registered with Companies House and it will be the sole trader’s direct responsibility to submit the annual tax returns to the HMRC.

  • Price: £55 pus VAT

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