Is going sole trader right for you?

Working as a self-employed individual has many advantages: being in control of your own business, the freedom this brings with it and the ability to optimise your income.

You may choose to work as a Sole Trader or Limited Company. There are similarities as both require you to run your own business however, there are distinct differences and merits with each way of working.

You should always be cautious of accountancy advice that tries to push you into a certain way of working based solely on a tax return, for example, suggesting a sole trader works via a limited company based on increased after tax earnings, without fully explaining the extra director responsibilities. Our New to Contracting guide looks into the different ways of working available to you as a self-employed individual.

If you choose to be a professional self-employed sole trader, you will need to take care of the bookkeeping, credit control, accountancy, provide insurances for your business and administer your bank account, while also securing the necessary work to provide an income.

With all this in mind, you need to make sure your decision to become self-employed is primarily a lifestyle choice. Working with Brookson, a specialist sole trader accountant, will make the whole process much easier for you.

Our accountancy, tax advice and support services take away as much of the administrative burden as is appropriate and provide the guidance, through your Personal Manager and our Customers Services Team, to make sure you meet your responsibilities.

When you are considering starting out as a sole trader choosing an advisor can seem difficult at first. We hope our website proves useful in helping you make your decision as to which option is right for you. You can call us to discuss any questions you may have about our services, or if you need help in assessing other accountancy and support services you have come across.

Once you have made your mind up, getting started with Brookson is extremely easy. Our New Business Advisors are always at the end of the phone if you’d like an individual consultation. Get started on the smarter way to work today.

Call us now on 0845 058 1400