Sole Trader vs Limited Company in the UK?

If you're thinking of setting up in business or perhaps you're already self employed, at some point you're going to need to make the decision of whether to set up a limited company. 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 and why it might not be the best move for all businesses.

You can read the full article to accompany this video here:

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#SelfEmployed #LimitedCompany #SmallBusiness

[hippopotomonstrosesquipped]

You just taught me more than I learnt in my years in business school...

[graemescott]

Magic video Andy. I wish I had seen your video years ago before setting up my limited company. My Accountant just assumed that I knew all of these things and it was a steep learning curve.

[Original_malachi]

Still one of my most helpful sources of explained self employed notes for years now. Thanks for the breakdown mate, top shelf!

[bandobabyworld]

I’ve literally got 2 businesses and it’s been racking my mind so badly about tax & accountancy fees & this was so so helpful really appreciate it 💚💜

[HanSanAbdy]

ohh God that was amazing the way you explained it saved me hours and hours of reading and researching! BIG LIKE

[benhare]

Brilliant. Going to show this to my wife as I don't think she understands why we have a Ltd. Company

[andreadiotallevi]

Clear, concise and fun video to watch - I like your style!

[GhostofCTC]

Been needing to know this for a while. Thanks for this video.

[ianclay]

Love this guy for keeping things simple 👍

[tlangdon]

Great advice Andy. To anyone thinking of setting up a Partnership I would say do lots of research about how partnerships differ from sole trading/Ltd. company. I’ve been a director a number of times and am currently a partner. The legal basis for partnerships is a bit quirky, so you really need to understand it, especially about how partnerships can be dissolved.

[marklawrence]

Nice video Andy. A very complicated subject but explained in a concise and easy to digest format. Nice touch with the Lego figures.
😊👍🏽 Mark

[jasonhook]

thanks Andy. Really enjoyed that, very well explained. I operate as a Sole Trader but have formed (by accountant) an Ltd company so I'm ready if I needed, plus it stops anybody taking the name :-)

[catherineahonsi]

Thank you so much.Very educative and well explained

[kevinratcliffe-er]

Great video. Really useful for grasping the basics. Thanks

[Charcmode]

Tutorials just the way I like them! Excellent. 👍

[vikeshparmar]

Yeh it's very helpfull video
This is my first video and i though i would definately subscribed this channel because this is very helpfull.
Thanks 👍

[peterdenness]

excellent and infomitive, nothing more needed

[sabinarajput]

You explain it so well ... you have gained a subscriber... xx

[dudleycarl]

Good tips mate. Thanks a lot for your content. It's really useful

[harryyoung]

Thanks for your help. I learned a lot from this video.