As a sole trader you will be responsible for finding your assignments and will have to pay tax on all your income. Fundamentally you will be personally liable for any debts run buy your business which means personal finances could be at risk something goes wrong.

Benefits of Sole Trader

  • You can work for a number of different clients simultaneously
  • You can be your own boss
  • You want a quick and cheap set up process

Disadvantages of Sole Trader

  • Having to find your own assignments
  • You have assignments that last longer than a few days
  • You want your business and personal finances to be separate

The sole trader will need to demonstrate that they are not supervised, directed, or Controlled (SDC) in the manner that they carry out the work, that someone doesn’t have the right to SDC. The agency will need to confirm that SDC does not apply on the specific assignment the contractor will work on.

Self-employed sole traders are engaged on a contract for services. SDC checks in place, UTR checked SMS text message and tax remittance to confirm earnings, contractors have access to online portal and free contractor benefits together with option of added benefits of banking, insurance and accountancy for an additional cost rolled into their weekly margin.

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