TO be or not to be, that is the question? A limited company that is. Whether to remain a sole trader or opt for limited company status is a conundrum for businesses. Opting to be a limited company might save you tax, unless your turnover is less than £10,000.
Why not check it out? For firms with modest profits, becoming a limited company could be an attractive option. There are other advantages. If the business gets into financial trouble, liability for any debts is limited to the assets of the business not the owner. Speak to your adviser or accountant about what is best for you. It could save you money.