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#1 Sunday 19th November 2017 18:40:21

russguilfoyle
Verified Member
From: surrey
Registered: Sunday 18th June 2006
Posts: 313

Any advantages in becoming a limited company

As an instructor I am a sole trader. Is there any tax advantages in becoming a limited company or does it make no difference.

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Sunday 19th November 2017 18:40:21

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Re: Any advantages in becoming a limited company



#2 Sunday 19th November 2017 21:36:16

reddragonbus
Verified Member
From: Edinburgh
Registered: Sunday 5th February 2006
Posts: 1,660

Re: Any advantages in becoming a limited company

LTD companies have to pay corporation tax, you have to submit accounts from an accountant to companies house every year or face fines.

You would still be liable for income tax.

If you pay yourself too little for income tax purposes you may find it impossible to get a mortgage as the banks now require written evidence from HMRC for loan applications.


LGV PCV Instructor DVSA ADI Fleet

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#3 Monday 20th November 2017 15:43:30

russguilfoyle
Verified Member
From: surrey
Registered: Sunday 18th June 2006
Posts: 313

Re: Any advantages in becoming a limited company

Thank you. Just wondered if it would benefit me to be limited instead of sole trader. Seems it isn’t.

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