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Business – sole trader

As a Sole Trader (Business), one requires to have knowledge of the Self Assessment tax return system.

Tax returns for Sole Traders many a times cause a lot of problems, stress and hassle to each trader every year. There are times when traders miss a deadline in instances of filing the tax returns on print documents, and one ends up huge penalties.

Even if running a business as a sole trader is the simplest and most efficient way to start of a huge profit, but it requires some of the basic protections with regards to taxations and returns. A small mistake may cost a lot more than your entire business. 

One sometimes ends up paying off hefty debts from their own pocket which may potentially hurt their personal lives eventually. To avoid such occurrences employ South Coast Tax and Accounting, we may help you in a way that no other tax and accounting can ever do. We believe in providing best to our clients to gain the best of tax returns to boost their future.

Partnership

A Partnership is an association between two or more persons who work together to carry on a business or trade.
 
Each individual contributes finance, assets, labor or skill, and individual with skills to share the profits and losses made in the business.
A Partnership firm is expected to file an annual information return to report their income, losses, profit and deductions, etc., from its occupations and operations, the partnership fir do not pay income tax. Rather they forward any profits or losses to their partners.
Each individual includes his or her split of the partnership’s profit or loss on his or her return of taxes.
Many a times it happens that both individual associated in the partner are not efficient enough to carry out return procedure, in such a case they require professional help from individuals specially trained for such tasks.
 
We, at South Coast Tax and Accounting try our best to apply an easy way of procurement and filling of taxes so that it helps boost your business in future.
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