How much tax do I need to pay as a sole trader?

yorgos · Apprentice Joined: 01 Apr 2007 Posts: 5

Usually people are asking questions about taxes in order to reduce them, I have nothing against that, but my question is a bit different. I think that taxes which I’m obligated to pay, in general, are way too small, I don’t think that this is all right. Since I’ve became a sole trader things are looking like this, and it frightens me somewhat. How much tax do I need to pay as a sole trader, is there a person able to give me precise answer?

benji1347 · Apprentice Joined: 14 Oct 2008 Posts: 2

Most probably you have just begun to work, so you don’t see the real damage yet. There is, also, the possibility that you are not doing it all entirely legal, even if you are not aware of it. While I was working as a sole trader I was constantly bombed with taxes, I can’t say that I understand your problem fully. As self-employed you’ll, however, be in position to avoid some taxation, but I would not consider that as greater benefit.