Gaz_1989 9,539 Posted May 11, 2013 Author Report Share Posted May 11, 2013 Cheers fella. I'm hoping it does ok and will leave my day job then. But for now I will try to juggle the two. Quote Link to post Share on other sites
dogs-n-natives 1,182 Posted May 11, 2013 Report Share Posted May 11, 2013 Im in the same boat mate, Im self employed just now, and have been for ages, as a self employed you still only pay tax on profits (after deducting costs). Ive been toying with the idea of becoming ltd but I cant see the benefits at present. Though I hope to go bigger over the next few years, and like you say appearance counts for a lot these days Quote Link to post Share on other sites
Gaz_1989 9,539 Posted May 11, 2013 Author Report Share Posted May 11, 2013 Im in the same boat mate, Im self employed just now, and have been for ages, as a self employed you still only pay tax on profits (after deducting costs). Ive been toying with the idea of becoming ltd but I cant see the benefits at present. Though I hope to go bigger over the next few years, and like you say appearance counts for a lot these days It seems I have been a bit blind and underrated sole trader to be honest. Apart from the liability side of things there isn't THAT much difference. I aren't going to be looking to get any loans or credit cards and I won't be running up debts so for now sole trader may be the way to go. You can still have a logo and company name I believe. Quote Link to post Share on other sites
Malt 379 Posted May 11, 2013 Report Share Posted May 11, 2013 get yourself a good accopuntant and never make a profit You'll have a fecking job making any profit anyway if you employ a decent accountant.. Quote Link to post Share on other sites
dogs-n-natives 1,182 Posted May 11, 2013 Report Share Posted May 11, 2013 Yes mate, logo's, company names are all good. Once you go ltd you must register the name with companies house, and it must be unique. But they aint too bothered when your a sole trader. Quote Link to post Share on other sites
Waz 4,293 Posted May 11, 2013 Report Share Posted May 11, 2013 Im in the same boat mate, Im self employed just now, and have been for ages, as a self employed you still only pay tax on profits (after deducting costs). Ive been toying with the idea of becoming ltd but I cant see the benefits at present. Though I hope to go bigger over the next few years, and like you say appearance counts for a lot these days It seems I have been a bit blind and underrated sole trader to be honest. Apart from the liability side of things there isn't THAT much difference. I aren't going to be looking to get any loans or credit cards and I won't be running up debts so for now sole trader may be the way to go. You can still have a logo and company name I believe. a trading as name. T/a Quote Link to post Share on other sites
WILF 51,093 Posted May 12, 2013 Report Share Posted May 12, 2013 Ask your accountant to set you up a ltd company, £25 quid job done......the difference with this and sole trader is: If you go sole trader and it all gos wrong they are coming round to take your house away If you go ltd, they can only take what the company owns on paper and you have no personal liability With the type of expenses you will have employing 15-20 people things can go wrong quickly so go Ltd 1 Quote Link to post Share on other sites
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