Sole Trader Accountancy Services from JSA
Should JSA’s Limited Company offering not suit your business needs, you may wish to consider setting up as Self Employed.
The biggest difference between a Limited Company and a Sole Trader is the manner with which HMRC will assess your financial situation for tax.
A Limited Company is a legal entity in its own right and is treated as such from a taxation viewpoint, submitting a set of Company Accounts each year. Sole Traders however are self employed and rather than being taxed on income as any employee would, you will have the benefit of deducting business expenses and then paying tax on the remaining profit you have made.
So who is eligible to become self employed? Essentially anybody: from hairdresser to plumber, CIS sub-contractor to child minder, if you are looking to be your own boss then this may be the best option for you.
So why would you opt to become a Sole Trader rather than open your own Limited Company?
The answer to the above question depends entirely on your business and how you wish to operate, however the benefits at a glance are as follows;
- No registration fees
- A fast and effective way to get your new business started
- Simple to run business
- Reduced cost of running your business
- Easier and cheaper to start / stop your business
- IR35 does not apply to Sole Traders
- Finally and most importantly … Complete control of your business
So why choose JSA??
The Introduction to this service demonstrates why you might opt for a Sole Trader process however, why choose JSA as your Accountant?
As with all of our services, JSA can offer you a competitively priced, value-for-money Sole Trader service – SoleWise, with no hidden costs or tie-in fees.