Sole trader vs Ltd company

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jul2614
jul2614 Registered Posts: 9
in General accounting discussion
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?

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  • Bertie
    Bertie Registered Posts: 376
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    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?)





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