- Original Poster
- #1
Morning everybody
Wondering whether I can beg a minute of your time, for what is probably a rather obvious answer, but maybe it just needs pointing out.
My partner and I are looking to open a small giftshop on a popular tourist high street. We are in the very early stages of setting it up and are currently undertaking the local council's business courses.
We are anticipating a turnover of around £65k, our question is should one of us set it up as a sole trader and employ the other? Should we set up as a traditional partnership? Or as an LLP? The first two options seem much of a muchness, but are there any advantages to starting an LLP?
Thanks very much.
Chris & Gemma.
Wondering whether I can beg a minute of your time, for what is probably a rather obvious answer, but maybe it just needs pointing out.
My partner and I are looking to open a small giftshop on a popular tourist high street. We are in the very early stages of setting it up and are currently undertaking the local council's business courses.
We are anticipating a turnover of around £65k, our question is should one of us set it up as a sole trader and employ the other? Should we set up as a traditional partnership? Or as an LLP? The first two options seem much of a muchness, but are there any advantages to starting an LLP?
Thanks very much.
Chris & Gemma.
