LTD or Sole Trader??

Discussion in 'Builders' Talk' started by Hoskie, Dec 2, 2005.

  1. Hoskie

    Hoskie New Member

    Evening all.

    Apart from the obvious tax benefits of being LTD does anyone know of any other benefits or even any disadvantages to being LTD rather than a Sple Trader?

    Cheers
     
  2. The pros and cons of this have changed quite a lot over the last 18 months as Gordon Brown has moved the goal posts around the pitch, and eventually out of the ground altogether.

    Ask an accountant, you'll get a better impartial view than on here.
     
  3. Charlie Far!ey

    Charlie Far!ey New Member

    No just get your stupid head and ******** cos youre too stupid to survive in the real world so you will at least get some satisfaction from your dreams

    [Edited by: forum admin]
     
  4. Bob Property

    Bob Property New Member

  5. ­

    ­ New Member

    Bob, that's a good description of the nutter. Everything here applies to him. LOL!

    If you do post a question, please bear in mind the following about the people responding:
    They may have a criminal record.
    They may be drunk or on drugs.
    They may have a psychological problem for which they may or may not have taken their medication.
    They may be on this forum because they have been banned from similar forums elsewhere.
    They may have little or no idea about the construction industry and are replying based on what they have read in DIY manuals or seen on TV programmes.
    They may have some theoretical knowledge of the construction industry but have no practical skills and have never done any actual “hands-on” work.


    Be warned everyone, there is a madman loose on the forum. He'll be in bed soon though as he's got his paper round early in the morning.

    Can you guess who I'm referring to..........

    No doubt he'll reply to this himself.
     
  6. slapiton

    slapiton New Member

    you can claim for two vans. when you go skint they can,t take your house .
     
  7. Charlie Far!ey

    Charlie Far!ey New Member

    so who the ** is twobobproperty? Oh I get it hes your handbagman verystupidman is he? - A zero amongst zeroes


    Nice when your no-one cos whatever you do or say doesn't matter .............sorry what was your name again......?

    [Edited by: forum admin]
     
  8. Charlie Far!ey

    Charlie Far!ey New Member

    Besides this is the Builders Talk forum verystupidman so what are you doing here with your posse? You're not a builder neither are your Blackspur Boys posse
     
  9. Village Idiot

    Village Idiot New Member

    I never said I was but I still think your a pillock
     
  10. ­

    ­ New Member

    I never said I was but I still think your a pillock



    V.I., we <u>ALL</u> think he's a pillock

    He knows he's a pillock but his problem is that he can't stop being a pillock.
     
  11. Bob Property

    Bob Property New Member

    Hoskie - before we were rudely interrupted - you asked about ltd co's. I have copied and edited part of my previous reply to this question from the TT forum:

    The big reason to go limited a couple of years back was that the chancellor in his wisdom wanted to encourage new business so brought in a 0% tax rate for the first £10,000 profit for new companies. Amazingly, lots of sole traders became new limited companies in the year after. Realising he had made a cock up he re-introduced corporation tax on dividends for small companies (up to I've forgotten what but it's quite high poss £300,000 t/o) at 19%. In most cases therefore you are still better off becoming a company as profits will be taxed at 19% whereas a sole trader is taxed at 10 then 22% plus NIC at 8% on earnings between about £4k and £32k. There are other benefits like you can pay a low (c£4k) salary and take the rest in dividends if you make any profits. If you don't, you can claim benefits as you only have £4k income (something the SE can't do).

    There are theoretical benefits of limited liability but most small ltd co's have to rely on their directors providing security for loans so it isn't as great a protection as may first appear.

    The downside is probably more paperwork and costs than being SE.
     
  12. slapiton

    slapiton New Member

    is this "very clever man"on drugs or what?
     
  13. Hoskie

    Hoskie New Member

    Cheers for the replies. My accountant recommends LTD for the obvious tax benefits so LTD I am.

    Maybe its about time that ****** got a life cos Im jsut about sick of seeing his **** responses on here and its blatently obvious that he is a total wind up merchant and has no mates so spend all his time on here acting like the ** that he is

    Keep it up its actually amusing!

    [Edited by: forum admin]
     

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