Whether you’re a new business owner or managing an established company, understanding the Confirmation Statement and its significance can help you avoid penalties and ensure your business stays on the right side of the law.

In this comprehensive guide, we will walk you through the process of how to set up a personal tax account, ensuring that you have all the necessary information at your fingertips to manage your taxes with ease and confidence.

What is a sole trader? As the term suggests, when operating as a sole trader you’re running your business as an individual. Being a sole trader merely means that there’s no legal distinction between the owner and the business.