Most start-ups have to decide whether to launch as a sole trader or a limited company. But what’s the difference between the two?In this short screencast, Emily Coltman, chief accountant of Enterprise Nation partner FreeAgent, gives a quick run-down of the costs and benefits of sole traders and limited companies, including:
- The advantages and disadvantages of being a sole trader and a limited company
- The legal differences between you and your business
- What paperwork you have to fill in
- The potential tax advantages of both forms of business.