July 2nd, 2021.
Being a sole trader means that you run your own business as an individual and are essentially self-employed. This is the most popular way of trading in the UK, with almost 60 per cent of businesses opting for this structure.By contrast, a limited liability company is a separate legal entity to you, with separate finances.
Each option has its own advantages and disadvantages, and anyone starting out in business will need to decide what will work best for them.
Here, we look at some of the major differences in terms of legal liability, taxes and bureaucracy...
For the full story at smallbusiness.co.uk CLICK HERE.