A sole trader is a self-employed person who owns and runs their own business as an individual. A sole trader business:
Advantages of a sole-trader:
* The stated prices are our standard prices. If the service requires exceptional work, we reserve the right to increase the fee.
£49* PAYROLL REGISTRATION
£29* MONTHLY PAYROLL
£119* VAT RETURN
£59# VAT REGISTRATION
Every business in England has the right to employ employees (UK residents) on the basis of British PAYE rules. Payroll also allows you to employ subcontractors under CIS scheme.
As a contractor your should submit CIS returns every month declaring the deductions of tax from your subcontractors (soletraders). We help contractors to register their companies under CIS scheme.
If you are self-employed in the building or construction trade, then you should pay tax under the Construction Industry Scheme (CIS).
You must register for VAT if your VAT taxable turnover goes over £85,000 (the ‘threshold’), or you know that it will, despite whether you are self-employed or you run a limited company. We can help you to register for VAT.
If you are vat registered, you must submit your declarations quarterly.
# Please note that when VAT registered, in many circumstances you will need HMRC account. You can create it by yourself or we can do that for an additional fee.
Register your partnership with us.
A partnership arrangement is similar to that of a sole trader. It contains two or more soletraders owing the business. All partners own a specified percentage of the profits, and the liabilities, so they must pay tax on that percentage.
This means that each partner must file their personal Tax Return as well as the Tax return for the partnership by 31 of January next year.
We are happy to help you with your tax returns.
TAX RETURN per partner £119*
REGISTRATION £59