The Sole Trader Route
Simple to set up and run, with minimal filing. You keep all profits but are personally liable for business debts and pay income tax on everything you earn.
The Limited Company Route
A company is a separate legal entity – your personal assets are protected, and the mix of salary and dividends is often more tax-efficient as profits grow.
When It Pays to Incorporate
As profits rise, the tax savings of a company usually outweigh the extra admin. The tipping point depends on your income needs and plans.
Think Beyond Tax
Credibility with customers, raising finance and bringing in business partners are all easier through a limited company.
How Businesswise Accountants Can Help
We compare both structures using your real numbers and handle incorporation, registrations and payroll if you switch.