The tax advantages of running a business through a company as opposed to being a sole trader have diminished due to recent tax changes , most notably the reduction in Class 4 National Insurance for the self employed and the increases in Corporation Tax and the taxation of dividends. However a limited company offers other advantages such as limited liability and it being relatively easy to spread ownership of the business to other family members by the issue of shares. Tax can also be reduced ( or deferred) by retaining profit within the company rather than distributing it all to the shareholders through dividends. Please get in touch if you require more information.

The post Sole Trade v Limited Company appeared first on Handbridge Accountancy Solutions.

The post 2023-24 Tax returns appeared first on Handbridge Accountancy Solutions.