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Sole Trader Formation

Sole Trader Formation

 
A sole trader is a small business that is owned by one person who takes on all the responsibility for the running the business.
 
​As a sole owner you enjoy all the benefits of being your own boss including entitlement to keep all net profits (but personally bear all the losses !).
 
Other good things about sole proprietorships include the fact that they are relatively easy to form and run (compared to other legal structures) and the owner is taxed under the flexible self assessment system.
 
As the accounts for sole traders are filed at HMRC (rather than Companies House) the affairs of the business are kept private so your earning will be not available to the general public.
 
However, a major downside to sole traders is that they are unincorporated structures which means the owner is personally liable for the debts and obligations of the business if it gets into financial difficulties.​
 
Another disadvantage is that sole traders generally find it harder to attract outside investment if needed.

Our Sole Trader Formation package is designed to ensure your business gets off to the best possible start and has some great features to facilitate this including:

 

O Clearing your proposed business name for use and, where required, advising on the strategies to prevent your name and brand being used or exploited by third parties.

 

O Secure your FREE Domain Registration (e.g. Org,uk or Dot.com) before somebody takes it before you get round to sorting it out.

 

O Signing you up to the relevant government departments (e.g. Self Assessment, PAYE, CIS, VAT, etc) so they know of your existence.

 

O Carry out a full compliance check of all the legislation and regulations that you need to comply with.O Provide you with the details of any suitable FREE or affordable government schemes you can benefit from (e.g. grants, training opportunities mentoring, advice, etc).

 

O FREE unlimited support before, during and up to 6 months after formation including advice and guidance on any relevant administrative, legal & financial issue relating to your start up.

 

Optional Extras     

After formation we will provide you with a link to some additional services which you can purchase to help you run your business including business call answering, virtual business address and mail forwarding services, business bank and merchant accounts with cashback, etc.

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