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Obligations As A Sole Trader

A sole-trader has certain key responsibilities due to their self-employed status. With Self-employment comes the responsibility of reporting your own taxes, the sole-trader status also means that you and your business are considered as one and therefore all risk and liabilities are linked to you as the sole-trader, this includes the liabilities of non-compliance. View our infographic to find out the key items you should cover as soon as you become a self-employed sole-trader.

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Obligations As A Sole Trader

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  1. Obligations as a S So olle e T Tr ra ad de er r  Keep all required records Register as self employed with HMRC Register for VAT if turning over more than £85,000 in sales Be Insured as the owner of the business Register as Employer with HMRC if employing people For more information visit our website at: https://chacc.co.uk Or email us at: info@chacc.co.uk

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