My thoughts...
It depends upon what you plan to do.
If you are a sole trader and have a few regular clients then you could look to get paid into a personal bank account (and so save banking costs).
It is also good if you want to keep your paperwork down, and are not going to employ anyone. Also good if you don't want the public to see your accounts.
Posted By: Larry Hagman on August 7th 2013 at 19:22:13
Message Thread
- Anyone here self employed and got some thoughts on pro/cons of Sole Trader VS Ltd Co? (General Chat) - megson, Aug 7, 18:54:35
- I have been both... now own Ltd company. (General Chat) - promethian1, Aug 7, 20:21:06
- oh... by the way...only corp taxed if a profit made :) (n/m) (General Chat) - promethian1, Aug 7, 20:23:00
- Got ur email meggers. Will email you tomorrow as out this evening. (n/m) (General Chat) - Tony Martin, Aug 7, 20:09:45
- My thoughts... (General Chat) - Larry Hagman, Aug 7, 19:22:13
- This is how I will start I think, perhaps formalise it once I've got a bit more (General Chat) - megson, Aug 7, 19:45:26
- Good plan (n/m) (General Chat) - Larry Hagman, Aug 7, 19:53:25
- This is how I will start I think, perhaps formalise it once I've got a bit more (General Chat) - megson, Aug 7, 19:45:26
- Email me if you like and I'll try to answer ur questions. I'm qualified ACCA. (General Chat) - Tony Martin, Aug 7, 19:09:47
- Hi Meggers, it depends if you are a cash rich enterprise or wether you will be operating (General Chat) - Jumbo1, Aug 7, 19:08:00
- Physical silver not gold. (General Chat) - Tony Martin, Aug 7, 19:14:36
- Tin. Seriously. Sell your house and buy tin. (General Chat) - Arizona Bay, Aug 7, 19:16:59
- it's not made of tinennymore soz (General Chat) - Tombs, Aug 7, 19:20:05
- Oh fuck. (General Chat) - Arizona Bay, Aug 7, 19:23:01
- sorry but i've just spent it all on alumiumiomnion foil (General Chat) - Tombs, Aug 7, 19:25:42
- Oh fuck. (General Chat) - Arizona Bay, Aug 7, 19:23:01
- it's not made of tinennymore soz (General Chat) - Tombs, Aug 7, 19:20:05
- x (n/m) (General Chat) - Jumbo1, Aug 7, 19:16:37
- Tin. Seriously. Sell your house and buy tin. (General Chat) - Arizona Bay, Aug 7, 19:16:59
- It'll be service based so neither really, although closer to cash rich I guess. (General Chat) - megson, Aug 7, 19:14:24
- Then be a sole trader... (General Chat) - Larry Hagman, Aug 7, 19:25:59
- You can - if you can dedicate a room as "your office" all the better... (n/m) (General Chat) - Old Man, Aug 7, 19:27:31
- And the fewer the number of rooms in the house the higher the percentage (n/m) (General Chat) - Larry Hagman, Aug 7, 19:32:26
- Excellent sounds good, thanks guys. (n/m) (General Chat) - megson, Aug 7, 19:37:14
- ^^^ this is how the Starbucks type tax avoidance starts... (General Chat) - Ralf Scrampton, Aug 7, 19:55:03
- Fuck it, i've been PAYE all my life so far so I've had to pay my tax. Its my bloody turn (General Chat) - megson, Aug 7, 19:58:55
- ^^^ this is how the Starbucks type tax avoidance starts... (General Chat) - Ralf Scrampton, Aug 7, 19:55:03
- Excellent sounds good, thanks guys. (n/m) (General Chat) - megson, Aug 7, 19:37:14
- And the fewer the number of rooms in the house the higher the percentage (n/m) (General Chat) - Larry Hagman, Aug 7, 19:32:26
- You can - if you can dedicate a room as "your office" all the better... (n/m) (General Chat) - Old Man, Aug 7, 19:27:31
- Then be a sole trader... (General Chat) - Larry Hagman, Aug 7, 19:25:59
- Physical silver not gold. (General Chat) - Tony Martin, Aug 7, 19:14:36
- I'm ltd and I got all my info of here... (n/m) (General Chat) - hoolahan, Aug 7, 18:56:00
- Steveotbc was the guy who posted this... (General Chat) - hoolahan, Aug 7, 19:09:07
- The tax you save is NICs (General Chat) - Old Man, Aug 7, 19:31:10
- Thanks for this, interesting stuff I'll have a look. (n/m) (General Chat) - megson, Aug 7, 19:11:27
- Some clever poster sort me out will try find it for you (n/m) (General Chat) - hoolahan, Aug 7, 18:56:23
- Steveotbc was the guy who posted this... (General Chat) - hoolahan, Aug 7, 19:09:07
- Depends what your trade is. What do you do? (General Chat) - Old Man, Aug 7, 18:55:57
- The plan is to do some work with SME's around their training, people development, process (General Chat) - megson, Aug 7, 19:16:26
- For that kind of consultancy I'd look at ltd (General Chat) - Old Man, Aug 7, 19:25:43
- Good advice on for services vs services, can I ask why you'd recommend ltd? (General Chat) - megson, Aug 7, 19:44:28
- That approach is also fine (General Chat) - Old Man, Aug 7, 19:52:45
- Excellent thanks that's really helped. (General Chat) - megson, Aug 7, 20:00:50
- That approach is also fine (General Chat) - Old Man, Aug 7, 19:52:45
- Good advice on for services vs services, can I ask why you'd recommend ltd? (General Chat) - megson, Aug 7, 19:44:28
- For that kind of consultancy I'd look at ltd (General Chat) - Old Man, Aug 7, 19:25:43
- The plan is to do some work with SME's around their training, people development, process (General Chat) - megson, Aug 7, 19:16:26
- Expect Tuddles will know a bit about that. (General Chat) - Arizona Bay, Aug 7, 18:55:44
- I have been both... now own Ltd company. (General Chat) - promethian1, Aug 7, 20:21:06
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