Sole Trader Or Ltd

[woodley67]

Just about to start out on my own, quick question is it best to go down the Sole Trader or LTD route?

Thanks Guys

 

[White Room]

If your just starting out then the sole trader route would suffice....

 

[Qwerty]

As above. Leave it a year and see how you get on. Many of us here are sole traders but I am looking at the Ltd route

 

[Just Rizzle]

get your self a accountant he will be best to advise you on this but if you not VAT registered then prob stick with sole trader then see how it goes good luck

 

[gamma38]

Going ltd doesn't become viable until your turning over around the late 40- 50k mark, according to my accountant anyway. That said there are pro's and cons to both, too many to list here. Best advise i could give you would be to get yourself a good accountant, then throw all your questions at him.

 

[woodley67]

Thanks for the feedback Guys

 

[Concrete guy]

I'd suggest the VAT threshold is a good indicator of when it's worth going Ltd. Currently mid £80K's in a 12 month rolling period.