Anderson Brookes


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0800 1804 933

As a Sole Trader you are responsible for running a business as an individual. Sole Traders are personally liable for the business debts.

This page gives an overview of the services we provide to Sole-Traders struggling with debt. Call 0800 1804 933 for specific advice.

Benefits of being a Sole Trader

Running a business as a sole trader has many advantages, these include;

  • You have sole responsibility for making business decisions.
  • You get to keep all the profits.
  • You do not need to publish financial records.

Disadvantages of being a Sole Trader

  • You are personally liable for debts incurred by the business.
  • Your personal assets are at risk if the business fails.
  • You are personally responsible for keeping financial records up-to-date.

Sole Trader Debts

Unlike a Director of a Limited Company, a Sole Trader does not have ‘limited liability’ in relation to business debts. Legally, there is no distinction between business assets / liabilities and the sole traders’ personal affairs.

In the course of running their businesses, Sole Traders often use personal credit to support their business finances. We commonly find that the business owner has built up high balances on credit cards and personal loans.

How We Can Help Sole Traders

Sole Traders often feel isolated. Many of the people we help have struggled to get on top of their finances for months without knowing which way to turn.

Anderson Brookes is itself, a small business; we understand the needs of small business owners - over 95% of our clients are currently self-employed. We can help;

  • Stop bailiffs
  • Stop CCJ Enforcement Action
  • Ensure the business is able to carry on trading

Use the menu on the left of this page to read about sole-trader debt solutions or call 0800 1804 933 for specific advice.

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Anderson Brookes Ltd

Anderson Brookes Ltd provides advice to individuals, business owners and company directors that are struggling with debt. Anderson Brookes Ltd is Authorised and Regulated by the Financial Conduct Authority; our registration number is 669796. You can confirm our details on the FCA website www.fca.org.uk. Anderson Brookes Ltd is a limited company registered in England and Wales; company registration number is 4213701. You can read more about the services provided by Anderson Brookes Ltd by visiting OUR SERVICES. A printed copy of our Initial Disclosure Document will be provided to you before any Instructions are accepted from you. You can request a copy at any time by calling 01204 255 051. Some of the services provided by Anderson Brookes Ltd are not regulated by the Financial Conduct Authority.

Anderson Brookes Insolvency Practitioners Ltd

Anderson Brookes Insolvency Practitioners Ltd is a limited company registered in England and Wales; company registration number is 10324159. Registered office address is 4th Floor, Churchgate House, Bolton, Lancashire BL1 1HL. Brendan P Hogan is licensed to act as an Insolvency Practitioner in the UK by the Insolvency Practitioners Association. Licence Number 101680.