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Frequently Asked Questions

What if I have a complaint against a sole trader or a partnership?

By law CIB cannot investigate sole traders or partnerships (except Limited Liability Partnerships, which are registered at Companies House). If you have a complaint about a business which is not run by a limited company your local Trading Standards Department or Citizens' Advice Bureau may be able to help. If you are a consumer, you may wish to seek help or advice from "Consumer Direct" www.consumerdirect.gov.uk or telephone 08454 04 05 06.

When entering details on a partnership or sole trader what name do I put in for Partnership Name?

Leasing - MacLease FAQs - Macquarie Bank Ltd
You need to put in the trading name only. For example, "Thomas Smith trading as Smith’s Vineyards", you would only enter "Smith’s Vineyards" in the Partnership Name field. Details on each partner are entered separately. See similar questions...

What is the difference between a Limited Liability Company and a Sole Trader or Partnership?

Information and FAQ - Express Biz
A Sole Trader is a person who operates a business without registering it as a Limited Liability Company. They personally carry all of the risk for the operation of their company. A Sole Trader has no protection for their company name and no access to the tax advantages of a Limited Liability Company. A Partnership is a firm with two or more Sole Traders who cooperate together to run their business. See similar questions...

US][UK] What is a Sole Proprietor (Sole Trader)?

FAQ for alt.computer.consultants.moderated
This is the self-employed person. Advantages are that you have the freedom that comes from owning the business yourself, some advantageous treatment for tax purposes and less onerous requirements for accounts than other business forms. The main disadvantage is that you are responsible for the debts of the business in full. The law makes no distinction between the business and your personal property. See similar questions...

Why should I register a business name if I am a sole trader?

Formit.ie - Express Online Company Formations
Where a sole trader carries on a trade or business under a name which consists of a description which is additional to, or in place of his/her own name an application for registration of the business name is necessary. See similar questions...

I am a sole trader. Should I become a limited company?

FAQs - Bresnan Walsh, Chartered Accountants & Registered...
Up until now incorporation (forming a Limited company) has broadly been seen as a way to reduce income tax. Whether or not incorporation will be benefit you depends on your own earnings profile. Detailed calculations need to be done to work this out. But you can get worthwhile tax savings. These will depend on your profit and what you need as take home pay. See similar questions...

How do I decide whether to trade as a Sole Trader or as a Company?

Startup Businesses Ireland - FAQ - Taxing Business
Your own individual circumstances will dictate whether you should operate as a limited company or as a sole trader. In addition to the taxation issues you need to consider there are various other practical and legal matters which should be taken into account when setting up a company and on which you should seek professional advice. See similar questions...

What are the advantages and disadvantages of conducting business as a sole trader?

BM & Y
Goodwill ? the sole trader gets to know his or her customers ? goodwill may attach to the sole trader personally. Capital Gains Tax ? 50% discount if business held longer than 12 months.Small business capital gains tax exemptions available. Admission of New Parties ? a structure will be required in order to admit a new party into the business. Finance ? the sole trader often finds it difficult to readily access finance without mortgaging personal assets. See similar questions...

Why does a builder need a company licence, when they are licenced as a sole trader/partner?

IBNA - Residential Warranty
The underwriter may seek a bank guarantee to support the builder’s application based on the perceived risk. The warranty provided by a builder to an owner is for a prescribed period (refer individual state legislation) following completion. Providing there are no claims, the bank guarantee will be released at the completion of this period. General deeds of indemnity are no longer required. See similar questions...

Q : Can a sole proprietorship or a partnership apply for shares?

MIH - Malaysian Issuing House Sdn Bhd
A : No. A sole proprietorship or partnership which are unincorporated cannot apply for shares. The sole proprietor or any of the partners will have to apply as individuals on behalf of their businesses. See similar questions...

Should I register a sole proprietorship or partnership? Or Should I incorporate my business?

Welcome to SBEC Small Business Enterprise Centre
There are three major types of business ownership in Ontario; Sole Proprietorship, General Partnership and Incorporation. Each one is unique in certain ways, and each offers different benefits. You may find it beneficial to discuss these options with your accountant and lawyer. To learn more about forms of ownership please visit the business registration section under the resources tab. See similar questions...

What are the advantages of corporations and LLCs over a sole proprietorship or partnership?

Generally corporations and LLCs offer certain liability protection, tax advantages, and business flexibility that sole proprietorships and partnerships may not have. To read more about corporations and LLCs, please visit our law library for those specific topics. The most significant use of a DBA is the ability for a sole proprietorship to open a business bank account and collect money using a name other than its legal name. See similar questions...

Can a husband and wife run a business as a sole proprietor or do they need to be a partnership?

The Small Business Empowerment Foundation, Inc. | SBEFonline...
It is possible for either the husband or the wife to be the owner of the sole proprietor business. The other person could work in the business as an employee. If the spouses intend to carry on the business together and share in the profits and losses, then they have formed a partnership. See similar questions...

Q1. Can a sole trader who holds a CII Chartered title apply for Corporate status?

CII - Membership - Designations & titles - Frequently Asked ...
An unincorporated sole trader does not need to apply at all. By definition he or she is a Chartered title holder. See similar questions...

What if I have a complaint?

WI Commissioner of Insurance Frequently Asked Questions on H...
You should contact the plan's customer service department. Many problems can be resolved on an informal basis. You can also file a written grievance. All managed care plans are required to have a grievance procedure to resolve a member's problems. This procedure is explained in your member handbook. Grievances are generally resolved within 30 days. If you believe your medical condition needs immediate attention, you may wish to ask that the grievance be considered as an expedited grievance. See similar questions...

I want to begin a Sole Proprietorship or General Partnership. What do I need to do?

Colorado Secretary of State
The trade name of a sole proprietorship or a general partnership can be registered by filing a statement of trade name with the Secretary of State's Office. Filing a statement of trade name creates a record of a sole proprietorship or a general partnership. Information regarding starting a business can be found in the Publications and the Helpful Links available under the GENERAL INFORMATION column in the Business Center of the Secretary of State Web site. See similar questions...

Who is a trader?

therootofallgoodismoney-com - Questions & Answers
The symbol of all relationships among such men, the moral symbol of respect for human beings, is the trader. We, who live by values, not by loot, are traders, both in matter and spirit. A trader is a man who earns what he gets and does not give or take the undeserved. A trader does not ask to be paid for his failure, he does not ask to be loved for his flaws. A trader does not squander his body as fodder, or his soul as alms. See similar questions...

How can you spot a Bad Trader?

rec.games.frp.marketplace Total Frequently Asked Questions (...
The short answer is you can't! Fortunately bad traders in the RPG marketplace are rare and tend to only strike once and then leave, unlike some other newsgroups (like the trading card newsgroups), unfortunately honest, trusting people lose money or material all the same. See similar questions...

Where do I register a sole proprietorship?

First Stop Business Center - Frequently Asked Questions
Generally, sole proprietorships are not required to register with the state. In most cases a sole proprietorship registration is handled through the county and/or city in which the primary place of business will be located. Sole proprietors are required to register with the state only if they choose to incorporate their business, establish a limited liability company or a limited partnership. See similar questions...

What is partnership?

Frequently Asked Questions - Best Ontario Inc.
A partnership is a proprietorship with two or more owners. The owners may have different percentage properly reflects their investment and contribution to the partnership. Each partner shares profits and losses in proportion to his respective percentage interest. The partnership business itself does not pay any tax. Instead, the individual partners pay tax based on their portion of the net profit or loss, and this is shown on their personal tax return. See similar questions...

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