Sole trader to Ltd company

[alamski]

Hello fellow Sparks,

Looking for advice from the more experienced members here as to when it is appropriate to move from sole trader status to ltd company. Is this something my accountant will advise me or dependant how number of staff, etc. Currently I am a one man band but looking to take on an extra pair of hands.

Any advice would be grateful.

Thanks

Alam

 

[Octopus]

Speak to your accountant ....

 

[ses]

If you start employing people and start taking on big projects then go ltd
If your just doing domestic style work on your own personally I would stay a sole trader it' less hassle

 

[Octopus]

I would imagine that the VAT threshold is your immediate problem . I think it's £84k turn over now and HMRC can determine any 12 month period to establish this.