Sole traders

The most common structure for people starting out in business is that of the sole trader.

As a sole trader, you'll set up on your own, using your own personal capital to get started.

In this section, you can read about:

• the advantages and disadvantages of being a sole trader;
• the various types of taxes you need to pay, i.e. Income Tax and Capital Gains Tax; and
• relief from Capital Gains Tax, and from trading losses and capital losses.