By working closely with you and understanding your business we will be able to help tailor the correct trading vehicle for you. For some this may be trading as a sole trader or partnership, whilst for others a Limited Company may be the best option. 

Working in close partnership with you we can offer expert advice which will enable you to make a clear decision about which model suits you best.  

LIMITED COMPANY

A Limited Company is a separate legal entity and is owned by its shareholders. As the title suggests the liability of the shareholders may be limited if the company fails. A company and its officers are also subject to a different structure of taxation and rates of National Insurance which, depending on your individual circumstances, may be of benefit.

The advantages of limited liability status must be weighed against an increased regulatory burden, and we can assist in guiding through this maze and advising on whether it might be suitable for you.

SOLE TRADER/PARTNERSHIP

Operating as an unincorproated business, whether alone or in partnership, is the simplest option and probably the least expensive to administer. The annual accounting costs and the reglulatory requirements can be much reduced, although, depending on your circumstances, this may not be the most tax-efficient option.

LIMITED LIABILITY PARTNERSHIP

Two or more individuals in business together now have the option to convert their partnership to a Limited Liability Partnership (LLP). Whilst an LLP has no tax advantages over a normal partnership, it does allow the partners to limit their financial liability. This type of trading vehicle is becoming popular with professional firms, although it is more onerous to administer and has to file accounts at Companies House.

To find out more please call in and and take advantage of our NO OBLIGATION, FREE CONSULTION.