Sole trader vs Ltd company
jul2614
Registered Posts: 9
I'm just starting out a small Accounting business, and wanted to get some opinion on whether most of you started as a sole traders or Ltd Companys?
I had thought that initially it would be easier, given the amount of business I will probably get in the first year, to become a sole trader. Is this what others have done, or have they started off straight away as a Ltd company?
I had thought that initially it would be easier, given the amount of business I will probably get in the first year, to become a sole trader. Is this what others have done, or have they started off straight away as a Ltd company?
0
Comments
-
On a numbers front likely to be better off being a ST, if starting with zero clients.
Limited liability is a factor, although some ignore the veil of incorporation possibilities.
The tax position shouldn't be the sole purpose, yet usually is.
You will have to do the calculations to see which will work out best - the extra admin etc etc.
I suppose if it would be your first foray into Ltd company accounts you're better off starting with your own.
(I've no idea what your experience level is like, but I assume (dangerous) that you've more than dipped your toe in the past?)
0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 323 NEW! Qualifications 2022
- 165 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 88 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 273 Tax
- 135 Bookkeeping
- 7.2K General accounting discussion
- 200 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership