ChatterBank3 mins ago
registered office
2 Answers
I am setting up a new company but was not going to set it up as a Ltd company ( i am a sole trader). In order to have a registered address do i have to be a ltd company.
should i go along the LTD route?
should i go along the LTD route?
Answers
Best Answer
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For more on marking an answer as the "Best Answer", please visit our FAQ.You dont''t have to register any business as a company unless you are going Limited. Just tell the taxman within three months of starting - (they wont forget you, trust me)
Going Limited is nowadays not the tax advantage as it used to be and over the next three years there will be no tax advantage. The only advantages of going Limited are if you run the risk of losing lots of money, Limited Liability will protect you personally and, if you are sick, you get SSP as you are an employee of the company.
The only other reasons for going limited are marketing ones- do your customers expect you to be Limited ?
Going Limited is nowadays not the tax advantage as it used to be and over the next three years there will be no tax advantage. The only advantages of going Limited are if you run the risk of losing lots of money, Limited Liability will protect you personally and, if you are sick, you get SSP as you are an employee of the company.
The only other reasons for going limited are marketing ones- do your customers expect you to be Limited ?