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So you've got an idea for a small business, startup, or side hustle and you're not sure whether to be a sole trader or a limited company? No worries, in this video we'll explore why if you're just starting out, as I've learned before, a sole trader is probably the way to go! Income tax rates & personal allowance: https://www.gov.uk/income-tax-rates How to setup as a Sole Trader: https://www.gov.uk/set-up-sole-trader A summary of the differences: https://www.simplybusiness.co.uk/know... CHAPTERS (The ones in the video are incorrect) 0:00 Intro 01:01 Liability & Legal Responsibility 02:07 Tax 03:56 Privacy & Transparency 04:41 Salaries 05:30 Expenses SOCIALS 📸 Instagram - / thecharleskerr 🐦 Twitter - / thecharleskerr 💼 LinkedIn - / kerrcharles 🎶 Awesome background music: https://www.epidemicsound.com/referra... CONTACT ME The best way to reach me is to send me a Tweet directly @thecharleskerr and I'll get back to you as soon as I can! PS: Some of the links in this description may be affiliate links that I get a small kickback from to help the channel grow 🙌 DISCLAIMER Any information or ideas shared here are for informational and educational purposes only and whilst every endeavour is made to ensure accurate information it may include some errors or inaccuracies. I can't be held liable for any actions you take as a result of anything you watch/see/read here. Do your own research to ensure something is right for you and get independent financial advice if you need it 🙂