{"id":63225,"date":"2025-02-02T00:24:51","date_gmt":"2025-02-02T00:24:51","guid":{"rendered":"https:\/\/peraltafinancing.com\/accounting\/which-is-right-for-your-business\/"},"modified":"2025-02-02T00:24:51","modified_gmt":"2025-02-02T00:24:51","slug":"which-is-right-for-your-business","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=63225","title":{"rendered":"Which is right for your business?"},"content":{"rendered":"


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Key Differences Between Sole Trader and Limited Company<\/h2>\n\n\n\n\n\n\n\n\n\n
Feature<\/strong><\/td>\nSole Trader<\/strong><\/td>\nLimited Company<\/strong><\/td>\n<\/tr>\n<\/thead>\n
Liability<\/strong><\/td>\nUnlimited liability<\/td>\nLimited liability<\/td>\n<\/tr>\n
Taxation<\/strong><\/td>\nIncome Tax on profits<\/td>\nCorporation Tax and dividends<\/td>\n<\/tr>\n
Setup Costs<\/strong><\/td>\nMinimal<\/td>\nRegistration and admin costs<\/td>\n<\/tr>\n
Compliance<\/strong><\/td>\nSimple self-assessment tax return<\/td>\nAnnual accounts and compliance<\/td>\n<\/tr>\n
Credibility<\/strong><\/td>\nLower<\/td>\nHigher<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

When to Choose Sole Trader<\/h2>\n

A sole trader structure is ideal if:<\/p>\n