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After further changes, from increases in dividend tax and employer NICs, freezing of thresholds, the introduction of MTD ITSA, together with non-tax changes such as companies house filing costs increase, ID requirements and more FRS 102 1A disclosures, at the same time as cost of living needs increase after-tax requirements, should you advise your clients to be a limited company, sole trader or a trading partnership?

In this webinar Paula Tomlinson will cover the following topics:

• Reminder of the non-tax differences between sole traders, partnerships and limited companies
• Main tax differences between sole traders, partnerships and companies – profit or loss-making
• Tax comparisons between sole trader and sole shareholder-directors and two person partnerships and shareholder-directors at different profit levels.
• Analyse the comparisons, what they mean and how to mitigate any adverse tax costs.
• What questions to ask and other factors to help you and your clients come to a conclusion.

By attending this session, you will be able to advise your clients on whether to set up as a sole trader, partnership or limited company based on their particular situation and requirements.

The session will be of most interest to general practice accountants, tax advisers and business owners.

Course level: Foundation / Intermediate