Do sole traders need to keep company minutes?

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Afternoon

Having worked on the board of a limited company in the past, I’m familiar with the record-keeping rules involved. When developing a business as a sole trader, do I need to keep records, such as company minutes, in the same way?

Cheers, H

Answers

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Hi Mr. H,

Sole traders do not have the same record-keeping and reporting requirements as limited companies so you do not have to keep minutes of business meetings. Just make sure that you keep a record of everything you spend and receive through your business.

You can find more guidance on sole trader record-keeping requirements here.

All the best.

a year ago
 

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