Sole Trader or LTD Company?

[Hot1 1]

Good evening all!

I am due to start up trading part time whilst working full time.

 

Now this may be an odd one but I cannot decide if it is worthwhile setting myself up as a sole trader or a limited company?!

 

I would really appreciate your thoughts on this.

 

thank you in advance.

Edited April 22, 2016 by Hot1

[Max Branning 149]

Speak to an accountant. 

[nic.grev 1]

I am no accountant but in my opinion you've got nothing to lose from setting up as a LTD company it's very easy to do, you limit your liability in case things go wrong and you pay less tax.

[Max Branning 149]

On 11/18/2016 at 11:46 AM, nic.grev said:

I am no accountant but in my opinion you've got nothing to lose from setting up as a LTD company it's very easy to do, you limit your liability in case things go wrong and you pay less tax.

Not exactly...Setting up a company is easy but there is a lot more to consider than the fact that you may pay less tax. Everyones personal situation is different and unless we know all the facts there is no easy answer to this question hence my original reply....Speak to an accountant.

[tenyamman 0]

i agree ......deffinatley speak to an accountant