TWM Business Law Website - Solicitors in Guildford, Reigate, Cranleigh, Wimbledon and throughout Surrey

Use this website to answer your business legal questions, problems and issues in Guildford, Reigate, Cranleigh, Wimbledon and throughout Surrey. Legal services include corporate, commercial, tax and taxation, share sales and purchases, business sales and purchases, mergers and acquisitions and all aspects of contract law in Guildford. Legal services include corporate, commercial, tax and taxation, share sales and purchases, business sales and purchases, mergers and acquisitions and all aspects of contract law in Reigate. Legal services include corporate, commercial, tax and taxation, share sales and purchases, business sales and purchases, mergers and acquisitions and all aspects of contract law in Haslemere. Legal services include corporate, commercial, tax and taxation, share sales and purchases, business sales and purchases, mergers and acquisitions and all aspects of contract law in Haselmere. 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Business and Tax Law Solicitors in Guildford. Business and Tax Law Solicitors in Reigate. Business and Tax Law Solicitors in Cranleigh. Business and Tax Law Solicitors in Wimbledon. Sole Trader - TWM Business Law Website - Solicitors

Sole Trader
An individual who carries on business as a sole trader is personally liable for all debts and obligations incurred by his or her business. All business debts can be enforced against the individual's personal property.

Particularly for businesses with risks of personal injury (such as caterers, hirers of equipment) or of negligence (such as a professional advisor) it is vital that these risks are insured.

The business profits are taxed as self-employed income, potentially at the present top rate of 40% plus 1% National Insurance Contributions. The individual will be required to file a tax return on 31st January each year and to pay tax in equal instalments, on 31st January and 31st July each year.