help needed on going self employed. sole trader or ltd company??? qualifications req?

[tmcobra22]

hi guys im wanting to go self employed wondering what is the difference between sole trader or limited company costs etc and where do i go to set it all up. also is it mandatory to be part of a scheme (nic napit etc) to be able to go out and do electrical work, if so what qualifications will i require to be in a scheme i have, city and guilds 2330 lev 2 and 3, NVQ lev 3, AM2. in process of sending off for ecs card??? please help.

 

[telectrix]

Re: help needed on going self employed. sole trader or ltd company??? qualifications

the advantage of going ltd. is that if it goes ---- up and you either owe loads of money, or get sued, the creditors can only get the ltd. co. assets, not your house,car etc.

it's not mandatory to be a member of a scam, but it makes the domestic notification of work easier. you need the 2382, 17th Ed. qualification as well if you want to join a scam.

 

[The Ranger]

Re: help needed on going self employed. sole trader or ltd company??? qualifications

i use both for contracting to a company - consultation only I use CIS

when materials are involved LTD all the way