Sole Traders

Many people, including the self-employed and contractors, make the lifestyle choice of working for themselves. Being a sole trader is the simplest way to start a business as you do not have to consult anyone else when making a business decision and the setting-up process is less bureaucratic compared to that of a limited company.

As soon as you have decided to start working for yourself, you have to inform HM Revenue & Customs within three months, otherwise you could incur a penalty. This can be done by completing form CWF1 on the HM Revenue & Customs website or by telephoning 0845 915 4515.

At Turnbull Associates*, we can take care of all the formalities for you and can advise you on how to keep accurate business records from day one. We will also advise you of other business expenses you can claim to reduce your tax bill, for example use of your car and the 'use of home' allowance for working from home.

For information on our services, or to arrange a FREE initial consultation, please call 01923 224411 or email Priya Raja-Motala.

Once we have evaluated your requirements we will give you a fixed-fee quote for our charges so that there are no hidden surprises.

* Turnbull Associates is the trading name of Turnbull Associates Limited.