Sole Trader vs. Limited Company — Tax Tips #5 | Ember

Описание: In this video we'll be defining what exactly sole traders and limited companies are, how they differ, and the pros and cons of both business structures. ⚖

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This is the fifth video in our Tax Tips series, where we'll be covering everything you need to know about the differences between sole traders and limited companies.

One of the first things to consider when starting a business is whether you’ll be operating as a sole trader or limited company. The structure you settle on can determine everything from the taxes you pay to the paperwork you do, so you’ll need to base your decision on what is best for you and your business.

Ember co-founder and Deloitte-trained chartered accountant Dan defines the differences between sole traders and limited companies, as well as the benefits and drawbacks that come with each business structure. 🚀

Timestamps:

0:00 Introduction
0:39 What is a sole trader?
1:12 What is a limited company?
1:39 The benefits of being a sole trader
2:09 The drawbacks of being a sole trader
2:49 The benefits of being a limited company
3:31 The drawbacks of being a limited company
4:22 Outro

#accounting #accountingtips #taxtips

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