Should I continue as a Sole Trader?
Forming and managing a limited company is more complex than simply remaining as a sole trader, but the benefits make this the best solution for you and the additional paper work is manageable.
There are certain steps that you will need to take, such as deciding if you are going to be the sole Director or it maybe you and your partner, this will have a potential effect on your tax liabilities. The HMRC will need to be formally informed and also Companies House will be expecting annual returns from you. Your business account and trading name will now have to be limited, so paperwork will need to be changed.
Acer accounts can guide you through the process to help set up your new limited company, advise on the business structure and ensure that all required returns are filed accordingly, we can also ensure that your bookkeeping and accounting processes, taxation, self assessment returns are reviewed and produced to allow you to concentrate on building your business.