Self employment & Ltd - HELP!

kellypkellyp Feels At HomeBristolRegistered Posts: 36
Hi all,

A client of mine has asked me whether it is worth her setting up a Ltd company alongside her Self employment business, to enable her to obtain a finance agreement on a vehicle?!
She is apparently only able to get the finance if her business is Ltd.

Has anyone encountered this before?

HELP!!

Thank you in advance

Comments

  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,069
    I've never heard that before (really odd - as a natural person has more 'depth' than a Ltd!).

    The problems with having a Ltd are increased costs in running it and increased responsibilities and penalties if things aren't done right. Give her the usual talk about the differences between sole and Ltd and the differing costs and see what she reckons.

    You may also take this opportunity to see if it's worth moving all her business into a Ltd.
Sign In or Register to comment.