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Discuss Sole trader to Ltd company in the Business Related area at ElectrciansForums.co.uk.

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  1. alamski
    Offline

    alamski EF Member

    Location:
    Luton, Bedfordshire
    Business Name:
    Phase One Electrical Solutions
    Hello fellow Sparks,

    Looking for advice from the more experienced members here as to when it is appropriate to move from sole trader status to ltd company. Is this something my accountant will advise me or dependant how number of staff, etc. Currently I am a one man band but looking to take on an extra pair of hands.

    Any advice would be grateful.

    Thanks

    Alam
     
  2. Murdoch
    Offline

    Murdoch Electrician's Arms

    Location:
    Woking
    Speak to your accountant ....
     
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  3. ses
    Offline

    ses Electrician's Arms

    If you start employing people and start taking on big projects then go ltd
    If your just doing domestic style work on your own personally I would stay a sole trader it' less hassle
     
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    • Agree Agree x 1
  4. Murdoch
    Offline

    Murdoch Electrician's Arms

    Location:
    Woking
    I would imagine that the VAT threshold is your immediate problem . I think it's £84k turn over now and HMRC can determine any 12 month period to establish this.
     
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