Sole Trader or Limited Company?
We know that setting up your own business is exciting, sometimes terrifying, and all-consuming. One of the first decisions you’ll need to make is whether to trade as a Sole Trader or Limited Company and we like to sit down with you at this point, normally over a coffee, and go through the differences between the two when it comes to responsibilities and taxation. Different trading structures suit different businesses and we want to make sure you make the best choice for you.
If you choose to be a Sole Trader we will register you with HMRC, sort out the online registration at the Government Gateway and you’re ready to do business.
If you know you want to create a Limited Company and you are reasonably business savvy and confident then we recommend The Formations Company who are great to deal with an offer a very competitive price.
However, If you’d like some support with the legal structure of your new company and the roles and requirements of the Companies Act 2006 then we can help. We charge a flat fee of £50 to set up your Limited Company for you. This includes the e documentation on formation and as an added extra we also include a Directors Service Contract. (Some other firms charge £50 for this document alone!)