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ephemeris's Avatar
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Default 17-03-2018, 10:01 PM

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Originally Posted by dan300 View Post
I plan to be a sole trader to begin with. You can always change if the business grows to the point you should become a Limited company.
Being a sole trader you pay less tax also but there are ways round this. I was recently offered the services of an accountant that would reduce my company tax bill which is hilarious when you think about it, especially as I'm company-less.

Remember also that if you're earning over 85,000 you'll need to register for VAT. Most people don't realise this, as in think they need to be paying it when they don't.
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dan300's Avatar
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Default 19-03-2018, 03:55 PM

Quote:
Originally Posted by ephemeris View Post
Being a sole trader you pay less tax also but there are ways round this. I was recently offered the services of an accountant that would reduce my company tax bill which is hilarious when you think about it, especially as I'm company-less.

Remember also that if you're earning over 85,000 you'll need to register for VAT. Most people don't realise this, as in think they need to be paying it when they don't.
It's currently 83,000 when you have to register for VAT. You were close.

I've changed my mind. I'm pretty sure I want to set up as a limited company from the offset, to sell on Amazon.

In fact I'm literally on companies house website right now, ready to apply for my company name. It's only 12 quid.

It'll be in a dormant status initially, until I begin trading. But I just want to secure the name.


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