Limited company or sole trader

[Farmelectrics]

What have most lads gone for when setting up there own bussines sole trader or limited company and what has been your pros and cons of either

 

[Octopus]

Go sole trader.

Limited has financial benefits when your net profit exceeds about £32K

Its easier to go from Sole Trader to Ltd, than it is to go from Ltd to Sole Trader

 

[Farmelectrics]

Thanks MurdochMurdoch

 

[Farmelectrics]

I haven't got the stutters I pads playing games ha ha

 

[Farmelectrics]

Would you register your business at charter house

 

[davesparks]

Charter house?

 

[moospark]

Companies House. Charter house was some daft public school thing, with David Jason, if I remember correctly.

 

[Octopus]

Try this:

Sole Trader v Limited Company

 

[Farmelectrics]

good read thanks murdoch i gather your a sole trader was only thinking of going limited company as at first will have to mix my own work with a bit of agency hopping and didnt want to go through an umbrella company

 

[Octopus]

good read thanks murdoch i gather your a sole trader was only thinking of going limited company as at first will have to mix my own work with a bit of agency hopping and didnt want to go through an umbrella company

One thing these calculators don't tell you is that Ltd has higher accountancy fees.

 

[driverman]

What have most lads gone for when setting up there own bussines sole trader or limited company and what has been your pros and cons of either

I seem to remember that if you went bust as a LTD company, you couldn't be touched financially...ie personal home etc.

 

[Farmelectrics]

surely on that advice driveman it would be better going ltd least you wont end up homeless lol

 

[Geordie Spark]

I always traded as a Sole Trader - as did the fishmonger along the road.

 

[driverman]

surely on that advice driveman it would be better going ltd least you wont end up homeless lol

Exactly..............is that not what a load of so called window companies do? Go bust.........move down the road and set up again. It goes on in other trades also.

 

[driverman]

I always traded as a Sole Trader - as did the fishmonger along the road.

Sounds fishy to me!

 

[Octopus]

I always traded as a Sole Trader - as did the fishmonger along the road.

Was that when you lived in Dover...

 

[driverman]

Was that when you lived in Dover...

Must of been the place! Just Haddock to say it!

 

[Robotstar5]

Must of been the place! Just Haddock to say it!

Surely you mean Plaice?...

 

[Geordie Spark]

Sounds fishy to me!

Oh it wasn't just the Fishmonger ...... the Cobbler was a sole trader too.

 

[Geordie Spark]

Was that when you lived in Dover...

No, but I knew a lad called Ben Dover - He and I went to different schools together.