Should I be a sole trader or Ltd company?
|
  |
|
|
| Author |
Message |
bar
Apprentice
Joined: 06 Jun 2006
Posts: 2
|
 Posted: 03/04/08 - 08:55 Post subject: |
 |
|
| I’m founding a company for fruit imports and I’m wandering if it is better for me to start as a sole trader or as a limited company. I know only the basic facts about each one but I don’t know how they function in reality. Not everything that could be read in books is confirmed in practice so I’m asking for few tips on this issue. |
|
|
Back to top
|
|
|
|
 |
hymie
Apprentice
Joined: 04 Aug 2004
Posts: 4
|
| Posted: 04/03/08 - 01:51 Post subject: |
|
|
I would always choose Ltd, simply because the word itself sounds better and clients as well as business partners would trust more a limited company. It is more serious form of organization. And another thing: as the word itself says, in limited company you’ll have limited liability which means that you won’t be liable for company’s debts by your personal possessions such as your house or your car. You’ll be liable only within the limits of the property you brought into the company. But there’s the other side of the medal. You’ll have to deal more with administration. I’m not sure only about the taxation, ask around for that, too.
|
|
|
Back to top
|
|
|
|
|
|
| |
All times are GMT
|
|
|
