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Frequently asked questions and helpful information

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Limited company vs sole trader

 

Get your free guide to the difference between a limited company and sole trader

 

Sole trader or limited company? Check out our definitions, compare the advantages and disadvantages and find out which business structure best suits your needs.

Every business - no matter how big or small - must have a legal structure, with the bulk choosing to be either a sole trader or a limited company. An estimated 3.4 million operate as sole traders, with 1.9 million operating as limited companies – so what is the difference between the two? And which could be the best fit for your business?

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Tax thresholds 2021/22

 

During the year it is often a good idea to keep an eye on your income levels to ensure you have enough money saved for your tax bill. I have scheduled the most common thresholds for your ease but please remember there may be additional allowance to claim and also National Insurance. 

 

If you are in any doubt please call or email and we can talk through your situation.

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