SOLE TRADER VS LIMITED COMPANY - EXPLAINED IN PLAIN ENGLISH

If you're thinking of starting a business or side hustle in the UK or maybe you're already self employed, at some point you'll need to make the decision of whether to set up a limited company or to trade as a sole trader! In this video I'm explaining the difference between a limited company and a self employed sole trader in the UK. What are the pros and cons of going limited, how much does it cost, how to pay yourself and what your responsibilities are!

0:00​ Welcome!
1:26​ What's the difference between the two?
4:02 Top 3 reasons people set up LTD's
8:05 Your responsibilities
9:45 Your deadlines

// SHOP MY PUNNY ACCOUNTANCY MERCH HERE!

// COME AND SAY HI!!

// WANT TO BECOME A CLIENT?!

Be sure to subscribe to my channel!!
#accountancy​ #accountant​ #business

[accountantshe]

Hi everyone!! I hope this video really helped you!! <3

[rachelmillidge]

Great channel. Really glad I've found you. I've almost finished AAT level 2, have my synoptic on 15th. Looking to get levels 3 & 4 done over the next couple of years and set up my own practice one day 😊

[jackcatford]

As always a great video.

I'm interested in why businesses wouldn't change their year-end to 5th April to coincide with the end of the personal tax year?

I changed my ARD to this straight after I incorporated to make it easier, I would love to hear your thoughts on this

[ElliotStephens]

Thank you for this info, really helpful🙏🏼 I’m a filmmaker that has recently taken it full time, would I be able to make an enquiry with you if possible please?