Sole Trader Explained in Under 5 Minutes

Are you considering becoming a sole trader but unsure about what it entails?

In this video, we delve into the details of what being a sole trader means, including the tax implications, advantages, disadvantages, and how it differs from a limited company. Whether you're a freelancer, self-employed individual, or small business owner, understanding the structure and risks associated with being a sole trader is crucial for making informed decisions about your business.

Watch now to learn more about the sole trader business structure and how it may be the right fit for you.

00:00 - Introduction
00:17 - What it means to be a sole trader
00:36 - Self employed or sole trader?
00:51 - Your Self Assessment
1:00 - Being self employed
1:16 - Considerations of being a sole trader
1:51 - If you need help deciding what is best for you
2:01 - Next steps, if you decide to become a sole trader
2:22 - Trading Allowance

For more support and guidance on common accounting terms, check out our guide ► https://www.theaccountancy.co.uk/guid...

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http://www.theaccountancy.co.uk