Limited company or sole trader

[Octopus]

I always traded as a Sole Trader - as did the fishmonger along the road.

Was that when you lived in Dover...

 

[driverman]

Was that when you lived in Dover...

Must of been the place! Just Haddock to say it!

 

[Robotstar5]

Must of been the place! Just Haddock to say it!

Surely you mean Plaice?...

 

[Geordie Spark]

Sounds fishy to me!

Oh it wasn't just the Fishmonger ...... the Cobbler was a sole trader too.

 

[Geordie Spark]

Was that when you lived in Dover...

No, but I knew a lad called Ben Dover - He and I went to different schools together.

 

[driverman]

Surely you mean Plaice?...

Yep..messed that one up a bit.......supposed i desrved to get battered!

 

[Octopus]

Yep..messed that one up a bit.......supposed i desrved to get battered!

Only if you have a chip on your shoulder!

 

[tidyboiler]

No, but I knew a lad called Ben Dover - He and I went to different schools together.

and also his mate the dentist.... Phil Mcavity :dita:

 

[SparkyJoe]

Just gone LTD to avoid umbrella company's on the odd bit of agency work. having a brother as an accountant helps

 

[lnrelectrical]

the difference has sole trader you can lose all you personal aset if goes wrong and project

 

[Guest77]

I seem to remember that if you went bust as a LTD company, you couldn't be touched financially...ie personal home etc.

Nonsence, you are Limited in liability, Directors of companies have to issue guarentees to banks etc when trading if they use credit accounts like wholesalers and need overdrafts, there are very few Ltd companies who do not have credit accounts, the liability is of course no-where near what a companies debt if it went under could be, so I understand what you are thinking but there is liability in anycase. It has been known for some company directors who have gone under and who tried to avoid liability to end up in prison, a debt never goes away, so going Ltd to avoid a debt if the worse happens is a silly assumption.

 

[Guest77]

the difference has sole trader you can lose all you personal aset if goes wrong and project

As you can if Ltd.

 

[lnrelectrical]

I understand that but its still better to ltd

 

[Guest77]

I understand that but its still better to ltd

I am not arguing with you on that point at all, I agree with you

 

[Geordie Spark]

the difference has sole trader you can lose all you personal aset if goes wrong and project

You really think so??

I know of two blokes who thought that.