Sole Trade -v- Limited Company

Discussion in 'Accounts & Finance' started by DFL, Mar 13, 2008.

  1. Scalloway

    Scalloway UKBF Legend Free Member

    14,790 3,146
    A director's liability is limited to their investment in the company, plus any money they owe the company as DLA.

    I would take the rest of the advice with a pinch of salt.
     
    Posted: Jun 7, 2019 By: Scalloway Member since: Jun 6, 2010
  2. Victoria_V

    Victoria_V UKBF Contributor Free Member

    29 4
    Appreciate the info! Could you possibly elaborate on that? You seem to have extensive knowledge on the subject so I'm curious to hear your feedback. Thank you.
     
    Posted: Jun 8, 2019 By: Victoria_V Member since: May 29, 2019
  3. Scalloway

    Scalloway UKBF Legend Free Member

    14,790 3,146
    Most of your comments on the advantages of using a limited company should have the words "Your accountant will be able to advise you further based on your particular circumstances."
     
    Posted: Jun 8, 2019 By: Scalloway Member since: Jun 6, 2010
  4. Victoria_V

    Victoria_V UKBF Contributor Free Member

    29 4
    Agree, having a personal accountant who will help you navigate all these nuances definitely has its advantages. This is more of a general overview of pros and cons, not an in-depth analysis, just so people who don't have access to personal accounting services can try and figure it out on their own.
     
    Posted: Jun 8, 2019 By: Victoria_V Member since: May 29, 2019