top of page

Self Employed & Sole Trader Debts

The section covers some information regarding Self Employment & Sole Trader Debts.

CCJ space NDA.png

Secure & confidential


Rated 4.6 Excellent


To find out more about managing your money and getting free debt advice, visit Money Helper, an independent service set up to help people manage their money. National Debt Advice is not associated with Money Helper.

Am I classed as a Sole Trader?

One of the most common areas of confusion for our self-employed clients is the difference between a sole trader and a limited company. You are classed as Sole Trader if you:

  1. Run your own business as an individual 

  2. You are personally responsible for the debts/costs of the business

  3. If you can't afford to pay the business debts, you're personally responsible and your personal income and any assets you have could be at risk.

Which business costs do I need to pay first?

Some of your business costs are more important than others. The list below covers all of the things you need to pay to make sure you can carry on running your business.
Type Of Debt
Consequence of Non-Payment
Water, gas & electricity bills
Equipment leases
Repossession of the leased item
County court judgments
A visit from bailiffs or a charging order
Tax, VAT or National Insurance
A visit from bailiffs, bankruptcy or imprisonment
Unpaid fines
A visit from bailiffs or imprisonment
Business rates
A visit from bailiffs or imprisonment
Business rent arrears
Eviction or a visit from bailiffs
Mortgage or secured borrowing on business premises
Losing your business premises

Struggling to pay your bills?


If you’re self-employed, living in England, Wales or Scotland, and looking for help with your debts, contact National Debt Advice.


Our panel of advisors will give advice on important business debts such as tax and business rates, provide support if your creditors are taking action against you and help you understand your options.


They will advise you on the debt solutions available if any, once you know your options, you choose your solution and relax.

Other Business Debt Solutions to Consider:

A CVA is short for a Company Voluntary Arrangement

Provide some relief from debt repayments.

A legal process for businesses struggling with debt.


Why choose National Debt Advice?

We can reduce your monthly payments!* Not only that but we're:

Have a 24/7 Live Chat Support

Have excellent reviews on Trustpilot

We give impartial and confidential advice


Our Values

Here’s an idea of what the process looks like:

Get Started

Complete the Debt Calculator 

Talk to Us

Speak to an advisor

You Choose

Choose a debt solution that best suits you and relax

bottom of page