Sole trader or limited pros and cons

[nath]

19 minutes ago, Retired Climber said:

Thank you. That's just the wake up call I needed; I didn't realise there was a post counter. Assuming 20 minutes of browsing per post made, if I'd not joined this forum, and done something productive instead I'd have been about £160,000 better off. 

 

See ya 

 

 

I wish you were my dad 

[kevinjohnsonmbe]

1 hour ago, Retired Climber said:

Thank you. That's just the wake up call I needed; I didn't realise there was a post counter. Assuming 20 minutes of browsing per post made, if I'd not joined this forum, and done something productive instead I'd have been about £160,000 better off. 

 

See ya 

 

 

 

[Dan Maynard]

Musings, think the C stands for company in PLC too.

 

[Newtons]

3 hours ago, GarethM said:

Why don't we ask Newtons for a bit more information before we start a rumble.

 

Are you buying big bits new on credit ?.

Is it just you or a group of guys ?.

 

Just myself been doing a bit of researching and I think I’ll start as a sole trader, until I start making a bit of pennies. 
I have 25 k to get me up and running and 10k for backup Incase the chipper blows up in my face. 

[eggsarascal]

2 hours ago, kevinjohnsonmbe said:

 

Brilliant, ain’t it!, should I spend my time on a forum, or nick another £160k. Decisions, decisions.

[Dan Maynard]

Sole trader is easier to set up and run, there is now much less tax advantage to being ltd. In my opinion it makes a lot of sense to sole trade for a year or two while you get going, if it's all going well after that then get a proper accountant to advise and help with tax anyway, they'll save you money.

[GarethM]

Think we would all say something along the lines of you don't have to spend it all either.

 

Spend wisely and buy what you need, not what you want. You can always trade up, not down and whilst you want to compete with the other guys.

 

Nothing wrong with a little freelance work, especially if you've got your own gear to get the ball rolling.

[eggsarascal]

6 minutes ago, GarethM said:

 

 

[eggsarascal]

9 minutes ago, GarethM said:

 

 

Spend wisely and buy what you need, not what you want. 

Done me well over the years, each will do their own through.

[Dan Maynard]

21 hours ago, eggsarascal said:

Brilliant, ain’t it!, should I spend my time on a forum, or nick another £160k. Decisions, decisions.

It is a bit confusing, isn't it?

 

Guy who's not an arborist any more comes on to arb forum, tells us all how clever he is and how much he earns, but takes 800 posts to work out his activity is not essential.