A business in which an individual and his/her business are considered to be one and the same thing for tax and liability purposes. As a sole trader the owner does not pay income tax separately for the business, but he/she reports any business profits or lossess on his/her personal income tax return. The owner is inseparable from the business, so he/she is liable for any business liabilities or charges.

BMG Accountancy works with a number of sole traders. Many of them enjoy the convenience minimal administration compared to the additional legal requirements associated with a limited company.