This post comes as a result of looking at a couple of potential clients and checking whether they have considered a number of areas which will impact on their 2009/10 tax, particularly in respect of small limited companies:
So you are thinking about setting up your own company or wondering whether you are trading through the best sort of company. There are basically three types of company you can trade through and they all have their pro’s and cons.
Sole trader
This is the simplest way to work for yourself and there has been much discussion in recent months about people reverting back to sole trader status, or setting up as a sole trader in preference due to increasing company tax rates of which more later. read more