[Neil Harvey]

I have not long started my own oven cleaning business and was working on the basis of being a sole trader. However one accountant I spoke to has suggested coming a ltd company to save on tax. It seems to me like a lot of paperwork for not much more gain. Plus as a sole trader I could do the tax returns myself. Any thoughts out there from people who are just one man bands like me?

[Rob_Mac]

Neil

The amount of turnover would be relevant, the commercial client base you have, we can't presume that because you have only just started you don't have some nice contracts.

From my perspective being Limited adds a certain amount of credibility and the clients I work with like to work with other VAT registered  & limited companies we are turning over a small profit and  am sure at some  point, last November, my accountant explained the reasoning why we went limited but it is lost in the fog of my brain.

It has clear benefits but I leave all that to my accountant - accountancy bills definitely go up when you go limited, my accountant lives in a very nice house

If you are just tootling along don't stress yourself too much, just yet, with being limited, build your revenue & business first

All the best

Rob

[B Bailey]

Agree with Rob.

[BDCS]

I'm a one man band,Vat reg'd sole trader, turn circa 70k and my accountant also lives in a very nice house

[Rob_Mac]

Carl

We should have done better at school

Rob

[BDCS]

I'm doing slightly better than the teachers who said I'd never be an achiever 

I had a bit of a think about a reciculation system - I want to pump the water out of the swimming pool, through the hot box and back into the pool 

[Darranvps]

I'm doing slightly better than the teachers who said I'd never be an achiever 

I had a bit of a think about a reciculation system - I want to pump the water out of the swimming pool, through the hot box and back into the pool 

Great Idea!

[Kev Martin]

I have not long started my own oven cleaning business and was working on the basis of being a sole trader. However one accountant I spoke to has suggested coming a ltd company to save on tax. It seems to me like a lot of paperwork for not much more gain. Plus as a sole trader I could do the tax returns myself. Any thoughts out there from people who are just one man bands like me?

Being a Ltd Company limits any liability you have to the share value of the company.  As a sole trader if you screw up in someone's house big style and you don't have liability insurance they can come after you personally and your personal assets if you are Ltd they can't unless they can prove that your actions caused the problem and  therefore you did not fulfil your responsibilities as a Director of a Ltd company.  i.e. you go in and clean someone's gas oven with petrol and you ignite the Gas to dry it out and the lot explodes

Kev Martin
Marblelife Ltd
Tiling Logistics Ltd

[Steven Butler]

Is there any benefit at all to a very small business carpet cleaning, oven cleaning, whatever, with very small turnover going LTD? Or is it purely for larger businesses?

[BDCS]

Your accountant would tell you the answer to that but if you don't have an accountant then probably not

[chris scott]

Ltd companies are good for me ...as i can go online and check out how much money people who are giving me advice on running my business are actually making

[Diamond standard ltd]

I have not long started my own oven cleaning business and was working on the basis of being a sole trader. However one accountant I spoke to has suggested coming a ltd company to save on tax. It seems to me like a lot of paperwork for not much more gain. Plus as a sole trader I could do the tax returns myself. Any thoughts out there from people who are just one man bands like me?

Being a Ltd Company limits any liability you have to the share value of the company.  As a sole trader if you screw up in someone's house big style and you don't have liability insurance they can come after you personally and your personal assets if you are Ltd they can't unless they can prove that your actions caused the problem and  therefore you did not fulfil your responsibilities as a Director of a Ltd company.  i.e. you go in and clean someone's gas oven with petrol and you ignite the Gas to dry it out and the lot explodes

Kev Martin
Marblelife Ltd
Tiling Logistics Ltd

+1

[chris scott]

I have not long started my own oven cleaning business and was working on the basis of being a sole trader. However one accountant I spoke to has suggested coming a ltd company to save on tax. It seems to me like a lot of paperwork for not much more gain. Plus as a sole trader I could do the tax returns myself. Any thoughts out there from people who are just one man bands like me?

Being a Ltd Company limits any liability you have to the share value of the company.  As a sole trader if you screw up in someone's house big style and you don't have liability insurance they can come after you personally and your personal assets if you are Ltd they can't unless they can prove that your actions caused the problem and  therefore you did not fulfil your responsibilities as a Director of a Ltd company.  i.e. you go in and clean someone's gas oven with petrol and you ignite the Gas to dry it out and the lot explodes

Kev Martin
Marblelife Ltd
Tiling Logistics Ltd

+1

I would have thought you would have been held responsible for your actions LTD or not. I would not regard being Ltd as any sort of immunity (for your actions).  Surly the correct public liability would cover this?

[Kev Martin]

Chris

I wrote this over 3 weeks ago.  Look at Limited liability and make your own decision.

Kev Martin
Marblelife Ltd
Tiling Logistics Ltd