Richard Nuttall: What will the SM&CR mean for sole traders?

Plain English guide to incoming regime

clock • 5 min read

With the SM&CR coming into effect in December, Richard Nuttall kicks off a series of plain English guidance for firms in the run-up to implementation and, first of all, considers the impact for sole traders

One of the more common questions we receive from business owners since publication of the Senior Managers and Certification Regime (SM&CR) is whether, as a sole trader business, they will be affected, and whether or not they will have to do anything differently from the December 2019 deadline onwards. It is an understandable question, as such a lot of the focus around SM&CR seems to be on the responsibilities principals and those in senior management will be adopting in order to monitor the activity of their staff. As a sole trader, where the individual is the business, they have always ...

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