Trading thru Ltd Cpy but then back to sole trader

averageguy11

Hi

I just wondered if there is anyone who stopped trading through there ltd cpy and started just as a sole trader?

I am contemplating doing this as the tax benefits fo going 'Ltd' created by out friend Gordon earlier this decade have been eroded ..and I no longer feel i want the hassle of being 'Ltd' ..with all the extra paperwork....companies house..extra tax return etc.

I don't have an accountant..true be told can't afford one at mo...very little assets on the balance sheet ...just a van and some tools....I have one eye on the new tax year due, if I am to switch it would be useful to do it then, for simplicitys sake.

Any opinions would be appreciated.

fengirl_2

I agree that often its not financially or emotionally beneficial to be incorporated. By reverting to a sole trader you will be removing a level of paperwork . Make sure you close the company down properly.