Ltd. company or sole trader?
Thread poster: Stuart Robertson

Stuart Robertson  Identity Verified
United Kingdom
Local time: 07:37
Dutch to English
+ ...
Jan 15, 2008

I am seriously considering going freelance in the coming months and am in the process of drawing up a business plan. My question is with regard to legal structures of the business.

It seems that many people on here believe that setting up as sole trader is preferable to setting up as a Ltd. company. Nevertheless, from the info I have come across, it would seem more beneficial to set up as a Ltd. company, as you pay less tax/NICs etc., reap more benefits in terms of dividends and, should it prove difficult to gain clients, it seems that as a Ltd. company, you will not be personally liable for the debts of the company should it go bankrupt.

What is the reason therefore that many people set up as a sole trader? What are the benefits to becoming a sole trader?

Many thanks for your input in advance!


Direct link Reply with quote
 


To report site rules violations or get help, contact a site moderator:


You can also contact site staff by submitting a support request »

Ltd. company or sole trader?

Advanced search







Anycount & Translation Office 3000
Translation Office 3000

Translation Office 3000 is an advanced accounting tool for freelance translators and small agencies. TO3000 easily and seamlessly integrates with the business life of professional freelance translators.

More info »
Across v6.3
Translation Toolkit and Sales Potential under One Roof

Apart from features that enable you to translate more efficiently, the new Across Translator Edition v6.3 comprises your crossMarket membership. The new online network for Across users assists you in exploring new sales potential and generating revenue.

More info »



Forums
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search