What are the advantages and disadvantages of being a sole trader vs. a limited company? The way in which you choose to trade has implications for you tax, legal and financial responisibilities. It may also have implications for how others (including clients) view you.
So getting this right from the beginning is really important. Here are some useful information resources which explain the differences and outline the pros and cons of each option.
- Sole trader or limited company: the best choice for freelancers – Guardian Small Business Network article
- 10 advantages of setting up a limited company – inform direct
- Setting up a private limted company – gov.uk
- Freelancing – the balance
- Legal Checklist – six things to consider when going freelance – Crunch