The Financial Conduct Authority and HM Treasury have published a report called the Financial Advice Market Review (FAMR).
David Cameron commissioned Julie Dean OBE the founder of The Cambridge Satchel Company to carry out an independent review of what additional support could be provided to the growing number of self-employed people.
Tax is payable on profits of a sole trader or partner, regardless if you take the profit out of the business or not.
National Insurance is charged on profits of a sole-trader or partnership. At the moment, the charge is 0% below £7,225, 9% between £7,225 and £42,475 and 2% over £42,475.