Sole traders might be known as freelancers, self employed, casual workers, sub contractors or even consultants. A sole trader is a business that is owned by a single person who is not trading through a company or other entity.
Many sole traders run their businesses alone, earning income from clients to cover limited overheads and provide their living. Some sole traders employ people, some are VAT registered, and some are actually very large businesses. The key points that make a business a “sole trade” are the single person owner and lack of limited liability.
Sole traders working with us include:
- Bricklayers, plumbers, carpenters, decorators.
- Gardeners, landscapers.
- Artists, designers, dancers, singers, DJs.
- Dentists, consultants, architects, professionals.
Our work with sole traders varies enormously. There are as many work patterns and requirements as there are sole traders. Having said that, many sole traders that are very small businesses need just annual accounts, a tax return and someone to answer occasional questions. That is exactly the service we provide to many of our sole trader clients.
Fees are usually quoted in advance and are either paid monthly through the year, or annually on presentation of invoice following completion of accounts and tax return. Whichever payment plan is chosen, we never charge more than the quoted amount.