Different between limited company and self employed

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Emmasam123

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If I was to go mobile what one would I do for insurance limited company or self employed? What’s the difference and what’s better.
 
The choice is between Sole Trader and Limited Company.
If its just you working mobile for now, it’s cheaper and much easier to register as a Sole Trader.

If you were to set up a Limited Company, you’d need to pay an Accountant to help you submit company accounts and sort out your dividend payments etc.
 
The choice is between Sole Trader and Limited Company.
If its just you working mobile for now, it’s cheaper and much easier to register as a Sole Trader.

If you were to set up a Limited Company, you’d need to pay an Accountant to help you submit company accounts and sort out your dividend payments etc.
Ok thank you, yo have been a big help with all my questions lol
 
If you're a limited company your liabilities are limited however you have to submit tax returns to both companies house and HMRC, and keep up to date company registers every year. You also have to operate PAYE even for yourself and submit your tax and NI online on the 24th of every month. In addition, you still need to send in a self-assessment even if you are technically employed by your company and operate PAYE. There are financial and tax benefits to being limited but unless your super organized and can do all the accounts and submissions yourself you need to pay for accountants. I have always done mine myself. It's a lot easier being a sole trader as you only have to submit a simple self-assessment on a cash basis. It takes minutes to do online every year or submit a paper one if you like.
 

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