Should I start trading as a Sole Trader, Partnership, Limited Company or LLP?
This is one of the most frequently asked questions and quite simply there is no standard answer. The decision can be based on the trade/profession undertaken, the anticipated size of the business, possible credit risks and potentially mitigating tax liabilities. If 10 people were to ask the same question the answer could be different for each one for numerous reasons. That is why each business needs to consider its own status and a personal discussion is vital in this respect, it can even be advantageous to maybe start as a Sole Trader and then switch to one of the other options at a later date. For the relevant advice please contact Andrew Keates
In my new contract of employment am I classed as a Self Employed contractor or an Employee?
It is up to the Employer and/or whoever is requesting your services to determine the basis on which you are paid, i.e. as an employee, a freelance service provider, maybe even a subcontractor (especially within the Construction Industry). We are asked on numerous occasions to advise on 'status' and the potential implications for both parties, if advice is required then please contact Andrew Keates