Sole Trader or Limited Company for Retail Business?

Alwyn

Registered User
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244
Would it be madness to trade as a sole trader rather than a limited company in a retail business?
 
Yes - giving the current climate, companies have a small bit more creditability esp. when approaching banks for lending/overdrafts.

Re: Tax - avoid paying CT by paying yourself a bonus at year end (depending of course on cashflows, etc). More tax planning opportunities with companies i.e. as an employee, you can pay yourself mileage and subsistence expenses.

Admin - bit more secretarial work with companies.

If it was my decision, I would go company.
 
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