# Sole trader or LTD company?



## tom-225 (Aug 30, 2009)

Hey guys, 

Looking for abit of advice. got to the stage now where i need to let HMRC know what i am up to. 

would i be better of as a sole trader or LTD company? 

ill be working on my tod. 

I know i havent put much info in here but if theres anyhing you need to know to help me just say.

Thanks in advance


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## The Cueball (Feb 8, 2007)

Depends what you are trying to do, trying to achieve and how much work you want...

Ltd company has it's uses, but there is some work looking after them, that you or someone you pay will have to do...

I wouldn't bother with a Ltd company if you don't have to TBH....

:thumb:


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## The Cueball (Feb 8, 2007)

have a look at this link for some help (I also use these people if/when I am setting up a ltd company, very easy and quick to deal with):

http://www.companiesmadesimple.com/sole-trader-v-limited-company.html

:thumb:


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## justina3 (Jan 11, 2008)

i agree with the big guy if you dont have to go ltd then dont


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## The Cueball (Feb 8, 2007)

I think the thing back in the day was to go Ltd, as this gave a “better impression” and if you got into a real financial loss, you could shut the company down and not have it affect your life… you could also start back up with the same people, stock etc under a different name (what’s known as a phoenix company)

People are far wiser to it now, directors are being struck off more and more and almost every week I am being asked for a “personal guarantee” when filling in credit/account forms, so I no longer have the security of a Ltd company…

:thumb:


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## Shug (Jul 13, 2007)

Aye, people are on to you now cueball


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## The Cueball (Feb 8, 2007)

Shug said:


> Aye, people are on to you now cueball


:lol:

Shhh... Don't tell anyone.....but cueball isn't my real name.... 



:thumb:


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## Shug (Jul 13, 2007)

The Cueball said:


> :lol:
> 
> Shhh... Don't tell anyone.....but cueball isn't my real name....
> 
> ...


I know but I couldnt really use what people normally call you. Swear filter and all that


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## Leemack (Mar 6, 2009)

The Cueball said:


> I think the thing back in the day was to go Ltd, as this gave a "better impression" and if you got into a real financial loss, you could shut the company down and not have it affect your life… you could also start back up with the same people, stock etc under a different name (what's known as a phoenix company)
> 
> People are far wiser to it now, directors are being struck off more and more and almost every week I am being asked for a "personal guarantee" when filling in credit/account forms, so I no longer have the security of a Ltd company…
> 
> :thumb:


:thumb:

We're ltd but we had our reasons but if you dont have to dont


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## NornIron (May 12, 2007)

This is worth a read for info...


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## alexj (Apr 12, 2012)

start off as a sole trader and see how you go


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## SimonBash (Jun 7, 2010)

As CB has eluded to Ltd status is not as attractive as it used to be, especially after the Companies Act 2006, far less ring-fenced.


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