Services Provided by
QM Financials
Sole Traders
Many contractors, freelancers, and consultants operate as sole traders. While it’s not mandatory to open a separate bank account (though it can be beneficial), the procedural requirements are simpler. The primary responsibility is to keep your accounts current to stay ahead of tax obligations.
That’s where we come in. Our team will handle all your daily invoicing and bookkeeping needs, giving you the peace of mind that your accounts are always in order. All we require from you is to track your expenses and inform us of the invoices you’d like us to generate. We’ll take care of the rest.
Being a ‘sole trader’ means that instead of establishing a limited company (like ‘Joe Bloggs Ltd’), you operate independently (for example, ‘Joe Bloggs trading as J.B Associates’).
Since starting a business as a sole trader doesn’t require complicated paperwork, it is often the initial step for many people into self-employment. Additionally, self-employment can often be conveniently managed alongside a primary job.