LIMITED Co V Sole-Trader V Partnership?
One of the key decisions is what trading Vehicle should I use?
This is something that we help many business owners with and have our own incorporation department in the practice and can set up a Limited Company the same day.
We would never recommend a business choose incorporation just because of tax reasons but this is one of the potential deciding factors.
The main rate and Small Companies Rate are now aligned from 01.04.15 at 20%.So all profits in a limited company no matter what size are taxed at 20%
One of the key benefits with trading through a company is the Limited Liability it provides to it’s shareholders.
Trading as a company compared to as a Sole-trader brings more compliance issues and the Companies Act needs to be adhered to. This is where we come in…..we work closely with directors to ensure everything is run as it should be and you are as tax efficient as you should be.
If like lots of business owners you would like to discuss the pros and cons of incorporation please give us a call. After an hour free consultation, we can assure you, you will have the information you need to make a informed judgement on what is right for you.
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