Edexcel AS/A Level Business

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Edexcel AS/A Level Business - Theme 1.5.4 Forms of Business Q&A 2023 Latest Update A+
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March 2023

2022/2023

A
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Sole traders - • An individual who owns and run their own business. They are unincorporated and is registered as self-employed by HMRC. • They own all the business assets personally and is responsible for the business debts and are legally responsible to keep records of all income and expenses. • At the end of the year, they need to fill in the self-assessment tax return. They have unlimited liability - the legal obligations general partners and sole proprietors because they are l...
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