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A-Z of Tax and Accounting terms: U is for…

by ClearwaysAccountants | Aug 30, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Self Employment, Small business advice

Unlimited Liability, UK GAAP and Universal Credit Unlimited liability A business with no limit on the liability of the owners.  If you are trading as self-employed (sole trader) or as a partnership your liability, should anything go wrong, is unlimited.  Consequently...

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