A lot of business owners prefer to stay as a sole trader. But when I talk to them about the benefits of being a limited company, it becomes clear that there are better options.
Yesterday, I was going through the onboarding of a new client who’s setting up a marketing consultancy limited company. Let’s call our client Penelope.
We came to that part in the process where we discuss VAT. Penelope’s company has revenues of less than £85k per year, so she doesn’t have to register for VAT if she doesn’t want to. But she can register voluntarily. The question is, should she?
If you’re reading this, you’ve probably come up with a great idea that you want to make into a business. More than likely, unless you’ve already made millions from selling off your last great idea, money is going to be tight.
If that’s the case, you’re obviously not going to go out and get yourself a Finance Director or CFO. So does that mean that you have to deal with all of those issues yourself?