does i need to regester as limited or as an induvedual
2006-12-28 07:03:26 · 4 answers · asked by Chike E 1 in Business & Finance ➔ Small Business
You are really asking three questions here
1. Registration as an individual
2. Registration as a limited company
3. Registration as an unlimited company.
Options 1 or 2 are advisable Option 3 could cause you grief. Probable answer is start with option 1 and incorporate into option 2 when business takes off. Leave option 3 well alone.
2006-12-28 07:08:46 · answer #1 · answered by BARROWMAN 6 · 1⤊ 1⤋
I Totally Agree with Barrowman and Mainwool-- Get 6 - 12 Months Trading under your Belt , then Register as a Limited company , with £100 - 00 shares - No More - Get your Accountant to Buy what is called an "Off the Shelf" Named Co then change the name to whatever you wish . definitely avoid option 3 -- It will pay you to Read Up on company formation and what it means - No Need to drive yourself Nuts -- Just absorb the Basics .. Good Luck to you
2006-12-28 07:22:01 · answer #2 · answered by ? 5 · 0⤊ 0⤋
If you're a 'sole trader' then you are personally liable for all the debts of the business. You will pay income tax on any profits business makes.
If you are a 'limited company', you are only liable for the unpaid share capital.
As a limited company you will pay yourself a salary which is subject to PAYE income tax, and the company will pay corporation tax on its profits.
2006-12-28 07:16:39 · answer #3 · answered by mainwoolly 6 · 1⤊ 0⤋
iot depends on ur buisness partners
2006-12-28 07:05:38 · answer #4 · answered by bunnyBoo 3 · 0⤊ 1⤋