Self Employment / Sole Trader Business Start Ups

Self Employment / Sole Trader Business Start Ups

As a self-employed person it is your responsibility to pay your own tax and National Insurance contributions on your earnings.

Simplest way of starting a business with very few formalities. You will need to advise the Inland Revenue that you are self-employed for tax and National Insurance contributions.

 

Control of the business will be entirely yours and you will be responsible for all management decisions. You will, however, also be personally responsible for any debts that you incur and, should your business fail, any personal assets that you have can be seized and sold to repay those debts.