Sole Traders Flashcards
1
Q
Financial Statements
(Sole Trader)
A
Statement of Profit Or Loss
Statement of Financial Position
2
Q
Do Sole Traders need to make annual returns to Companies House?
A
No
3
Q
HMRC Responsiblities
(Sole Trader)
A
Annual Income Tax Returns - Profit of business
Quarterly or Annual VAT Returns (if they are registered for VAT)
