plasmarb Posted August 8, 2012 Share Posted August 8, 2012 Just a query to why all the companies I see trader as a LTD and not sole trader? Is there a reason behind this (other than capital liability) Link to comment Share on other sites More sharing options...
MrHappy Posted August 8, 2012 Share Posted August 8, 2012 the Ltd; is preferred as it separate body Mr Veritas God Link to comment Share on other sites More sharing options...
james.wilson Posted August 8, 2012 Share Posted August 8, 2012 There were tax benefits. But it does depend on many factors. Your accountant is best placed to advise you on that securitywarehouse Security Supplies from Security Warehouse Trade Members please contact us for your TSI vetted trade discount. Link to comment Share on other sites More sharing options...
jb-eye Posted August 8, 2012 Share Posted August 8, 2012 Tongue in cheek, Ltd co are for people who expect to fail Customers! Link to comment Share on other sites More sharing options...
plasmarb Posted August 9, 2012 Author Share Posted August 9, 2012 Are there many on here who trade by sole trader? Link to comment Share on other sites More sharing options...
MrHappy Posted August 9, 2012 Share Posted August 9, 2012 reg Partnership Mr Veritas God Link to comment Share on other sites More sharing options...
RichL Posted August 9, 2012 Share Posted August 9, 2012 Im both sole trader and Ltd. Limited doesnt offer the protection it once did, although there is still some kudos to being Ltd and being a company director. Id say the deciding factors now will be your tax position, so as above, bean counter best one to ask. Originally said by Charles Babbage On two occasions I have been asked [by members of Parliament], 'Pray, Mr. Babbage, if you put into the machine wrong figures, will the right answers come out?' I am not able rightly to apprehend the kind of confusion of ideas that could provoke such a question. Link to comment Share on other sites More sharing options...
Adi Posted August 14, 2012 Share Posted August 14, 2012 im sole trader, accountant has said stay as this. Although a mate of mine who has a fire only company went ltd last year due to recommendations from his accountant. There are 2 of them in partnership and 3 or 4 lads. I really can't be ar**** with it anymore. Link to comment Share on other sites More sharing options...
Cubit Posted August 14, 2012 Share Posted August 14, 2012 im sole trader, accountant has said stay as this. Although a mate of mine who has a fire only company went ltd last year due to recommendations from his accountant. There are 2 of them in partnership and 3 or 4 lads. Did he give you reasons why? I ask because whilst the admin can be easier AD a sole trader, the state works against you and there are financial benefits being ltd. Link to comment Share on other sites More sharing options...
jb-eye Posted August 14, 2012 Share Posted August 14, 2012 Did he give you reasons why? I ask because whilst the admin can be easier AD a sole trader, the state works against you and there are financial benefits being ltd. There are financial benefits not being ltd too. Depends very much on the business, ADI do you have children?The biggest benifit to ltd is the liability, many people who set up generally speaking IME are scared about going bust and like the idea of hideing behind limited liability. I have done this myself when involved with a risky proposition, if you are cash possative stay as you are Customers! Link to comment Share on other sites More sharing options...
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