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Sole Trader Registration


Being a sole trader is the simplest way to run a business: it does not involve paying any registration fees, keeping records and accounts is straightforward, and you get to keep all the profits. However, you are personally liable for any debts that your business runs up, which makes this a risky option for businesses that need a lot of investment.

Set-up

  • You need to register as self-employed, and can do so by completing the form below.

Management and raising finance

  • You make all the decisions on how to manage your business.
  • You raise money for the business out of your own assets and/or with loans from banks or other lenders.

Records and accounts

  • You have to make an annual self assessment tax return to HM Revenue & Customs.
  • You must also keep records showing your business income and expenses.

Profits

  • Any profits go to you.

Tax and National Insurance

  • As you are self-employed, your profits are taxed as income.
  • You also need to pay fixed-rate Class 2 and 4 National Insurance contributions on your profits.

Liability

  • As a sole trader, you are personally responsible for any debts run up by your business. This means your home or other assets may be at risk if your business runs into trouble.

For £19.99, Davenports can register you with HM Revenue & Customs, simply complete the form below and you should receive your confirmation of your registration within a matter of working days.

 

encrypted Sole Trader Registration

Personal Details
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Contact details
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Your present circumstances
About your business
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  3. Your business name must only contain letters (A-Z) or numbers (0-9)
Business contact details
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Work details
Accounting and Taxation Services
  1. Whilst we register you as self-employed, Davenports can also look after your other accounting and taxation needs. Why not appoint Davenports as your tax agents, there is no obligation to use our services.
Signature and Date
  1. This form will form part of a legal document; as such we require your signature. To do this we will need to create a digital signature, which will be made up of information known mainly to you.
  2. Digitally signing this document will be the same as physically signing that this information is correct
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Payment
  1. We take the security of your personal and financial information very seriously, as such this form will be encrypted once you click submit.
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Billing details
  1. Is the card in your name?
  3. If no, enter the name on the card below
  5. Is the card registered to your home address?
  7. If no, enter the billing address below
 

button Sole Trader Registration

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