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Should I trade through a limited company ?

Sasha Owen
Accounting

I do get asked if a sole trader should trade through a limited company.

Changes over recent years in corporation tax and income tax make any tax benefit of incorporation small and taking account of extra costs and the administrative burden in my opinion the main reason for incorporation should be commercial not driven by tax

There are some changes that are currently being enacted which have further implications for limited companies

The company’s Registered Office has to be a place where documents can be served and signed for

A valid email address will have to be provided to Companies House

Directors will have to provide valid ID

But the most important consideration in my view is the fact that all limited companies will have to file a profit and loss account, even micro entities

At this stage there are still discussions about whether this will be for Companies House use only or be publicly available but given all the considerations then its best to take advice before making any decisions, you can contact me here

Limited company, self employed, Tax, tax for self employed, therapists

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Sasha Owen
Sasha Owen BSc FCA qualified as a Chartered Accountant in 1983 and has been in practice as an accountant since 1987. If you think Sasha has the conventional image of an accountant then you couldn’t be further from reality. Sasha is a Reiki Master, loves the arts, music and theatre; having been on stage herself and worked backstage she really does have a deep understanding and love for the arts and alternative therapy world.

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