Sole traders
The most common structure for people starting out in business is that of the sole trader.
As a sole trader, you'll set up on your own, using your own personal capital to get started.
In this section, you can read about:
- the advantages and disadvantages of being a sole trader;
- the various types of taxes you need to pay, i.e. Income Tax and Capital Gains Tax; and
- relief from Capital Gains Tax, and from trading losses and capital losses.
What is the law guide
The Desktop Lawyer law guide aims to present the law to you in a comprehensive yet jargon-free and easy-to-read format. Our law guide is constantly kept up to date with changes in business and family law by our team of in house solicitors, and includes information across all the legal jurisdictions in the UK.
Our law guide is free to use. Where we provide documents related to this area of law, or where they may help you with any legal issue in this area, they will be listed to the right of this message.