Edexcel AS/A Level Business
Cambridge College
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Edexcel AS/A Level Business - Theme 1.5.4 Forms of Business Q&A 2023 Latest Update A+
- Exam (elaborations) • 4 pages • 2023
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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...
Exam (elaborations)
Edexcel AS/A Level Business - Theme 1.5.4 Forms of Business Q&A 2023 Latest Update A+
Last document update:
ago
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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$6.50 for your textbook summary multiplied by 100 fellow students... Do the math: that's a lot of money! Don't be a thief of your own wallet and start uploading yours now. Discover all about earning on Stuvia