Sole Traders

Question 1

**Sole Traders **

Max Time to register for Self-Assessment

1

Answer 1

Within 3 months of starting the business

Question 2

**Sole Traders **

Taxable Sales VAT Threshold

1

Answer 2

90k pa

Question 3

**Sole Traders **

Statutory name restrictions contained in..

1

Answer 3

ss1192-1198
Companies Act

Question 4

**Sole Traders **

Prohibited Naming Rules under Companies Act 2006

3 (statutory ref and reason)

The following are prohibited for use withouit permission..

Answer 4

1. s1193- names implying connection to government, locan & Public authorities
2. s1194- “sensitive” names that are connected to a geograpical area
3. s1198- misleading names so as to cause harm to the public.

Question 5

**Sole Traders **

Any buisness that employs staff legally obliged to take out what type of Insurance

1

Answer 5

Employers Liability Insurance

May also need Building Insurance, Occupiers Liability and Product Liabil

Question 6

**Sole Traders **