Sole trader or limited company?

Most members work as sole traders. A limited company can save tax at higher profits but means more paperwork and costs.

Talk to an accountant

The right choice depends on your income and plans. Members can get a free 30-minute call with one of our partner accountants.

Good to know

• Review your rates and terms once a year, for example each January.
• Members can book a free 30-minute call with one of our partner accountants each year.
• Save copies of quotes, invoices and client emails for at least 6 years for HMRC.

Downloads

• Business expenses checklist (PDF, 95 KB)
• Late payment letters (Word, 37 KB)

Page last reviewed 31 August 2026