sole trader versus Ltd company

[Elem]

Hi there
Can anyone tell me if a medical contractor/consulatnat can operate as a sole trader? Most seem to operate through ltd companies and i really can't see the benefit?
Many thanks in advaance for your help
Elem

 

[Joe_90]

Hi,
There is nothing to stop a person operating as a sole trader. The benefit of having a company is that the corporation tax is lower than marginal rates of Income Tax. The other benefit is limited liability.

There is specific laws prohibiting doctors/dentists from operating as a company.

 

[capnhand]

Hi

In certain circumstances if you operate as a sole trader the revenue can deem you to be an employee based on the nature of the relationship.

Kind Regards

capnhand