Sole traders are self employed individuals working for themselves.

Most small businesses are set up as sole traders which is probably the easiest (though not always best) way of setting up a straight forward business.

There is no "separation" between the business finance and your own.

Tax is paid by sole traders twice a year on 31st January and 31st July - the amount is an "estimate" for the current years Tax and any under or over payment for the year is added or deducted from the payment due next January 31st.

When we submit your tax return for you we will calculate any payments or repayments that are due and will let you know the due date to help you plan your budget