14 Example 5(b) â Solution Because g (x) = log 2 x x is the inverse function of f (x) = 2, the graph of g is obtained by plotting the points (f (x), x) and connecting them with a smooth curve. The graph of g is a reflection of the graph of f in the line y = x, as shown in Figure 3.14. contâd Figure 3.14.
Legal liability and protection of personal assets are two areas where operating as a sole trader is a major disadvantage. In the event of a legal claim against the business, where insurance does not cover the full extent of any damages awarded, the owner's personal assets can be attacked to pay the damages.hen the business is being started part-time, while the owner continues in full-time employment, operating as a sole trader allows the owner to reduce tax payable on the employment income if losses are made. This tax reduction is subject to the business satisfying non-commercial business loss provisions.
In simple terms, a sole trader is a business that is owned by one person, although you can also have people working for you. As a sole trader, you are personally trading as your business. It is different to operating as a limited company where the business is itâs own legal entity.As a sole trader, you and the business are treated as a single entity for tax and administrative purposes.1  You are self-employed and you must register your self-employed status with HMRC.t is different to operating as a limited company where the business is itâs own legal entity. As a sole trader, you and the business are treated as a single entity for tax and administrative purposes. 1  You are self-employed and you must register your self-employed status with HMRC.