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#1 04-12-08 10:10:32

paulcook
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From: Edinburgh
Registered: 13-05-08
Posts: 130
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Sole Trader or Ltd Company ?

Hi folks

I'm a PDI at the moment, with the plan to become a one man band some day.  If you're a one man band, is there much point in registering as a Ltd Company (on Companies House)?  On speaking to them this morning, I'm not seeing much point in registering.  Setting up as a sole trader seems more appropriate.  What's the general feeling within the industry?   Any thoughts very welcome....


Paul Cook, ADI, Grade 5, DIAmond Special Test

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04-12-08 10:10:32

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Re: Sole Trader or Ltd Company ?



#2 04-12-08 12:01:47

driverpete
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From: Nottingham
Registered: 06-02-06
Posts: 457

Re: Sole Trader or Ltd Company ?

I think you'll find that most if not all the one-man-bands on here are sole traders. You'll need to contact HMRC as soon as you become self employed to register for NI contributions and self-assessment of income tax. It's worth contacting them for advice; they do free workshops on self employment and on tax self assessment which are very informative.


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Retired RoSPA Approved Tutor
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#3 04-12-08 13:05:14

paulcook
Verified Member
From: Edinburgh
Registered: 13-05-08
Posts: 130
Website

Re: Sole Trader or Ltd Company ?

Well that settles it then, Sole Trader for me.  And thanks for the tip about the Revenue, will do.   

Cheers


Paul Cook, ADI, Grade 5, DIAmond Special Test

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