Limited Company or Sole Trader?There are advantages and disadvantages with starting a business either as a limited company or a sole trader. Operating as a sole bedwetting-children gives the advantage of requiring little in terms of administration. You must register as being self-employed with the Inland Revenue within the first three months of trading and you bedwetting-children pay Self Assessment Tax as well as national insurance. As a sole trader you are personally responsible for any monies owed to government or creditors and hence your personal assets including your home can be at risk.There are a few reasons why forming a limited company may be the better option for you.Firstly with a limited company there is limited liability to the company and hence in the event that the company struggles to pay its creditors and/or the government then the personal assets of the director(s) are not at risk. Secondly the perception of being a limited bedwetting-children tends to be better than that of being a sole t
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