Advantages and Disadvantages of a sole trader


	Advantages and Disadvanatges of a sole trader
	Advantages You receive 100% of the business profits Its simple to set up only two forms are needed to be sent to revenue and customs. If the company makes a loss in the first few years you can put it against your past/current income and possibly receive money back from revenue and customs.	Disadvantages If the company gets sued the sole trader can loss their:Home, car e.t.c. Bankrupcy can occur The owner has full reliability
	Evaluation Being a sole trader is good as you can control your own business, however due this there is a lot of risks involved.

You receive 100% of the business profits
Its simple to set up only two forms are needed to be sent to revenue and customs.
If the company makes a loss in the first few years you can put it against your past/current income and possibly receive money back from revenue and customs.

Being a sole trader is good as you can control your own business, however due this there is a lot of risks involved.

Get Revising