Tax

Should I Set Up a Limited Company?

When starting a new business, one of the most important considerations is the structure and legal status your company will adopt, and specifically whether you should set up a limited company or operate as a sole trader or partnership. The decision you make will significantly affect every aspect of your business, from your earnings and…

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Should I Register for VAT?

If your turnover has exceeded the VAT registration threshold of £85,000 in the last 12 months, your business must register for VAT with HMRC. This applies to all commercial businesses, including sole traders, partnerships, and limited companies. However, before reaching the mandatory VAT threshold, you may wish to consider the potential benefits of voluntary VAT…

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