Registering a Business Name as a Sole Trader

emmadragon

slipp_digby wrote: »

agree with Ste C

there is a myth that running a ltd company is hugely expensive and a lot of hassle. if it is set up well, this doesnt have to be the case and their are a range of exemptions to help small ltd companies.

seems to me that starting a ltd company just to stop someone else having the same name is the tail wagging the dog somewhat?

the OP would probably need to get the advice of a good accountant. the best way to do this is to prepare some projected costs and turnover figures to see if there is likely to be any benefit n sole trader vs ltd.

as for VAT, it doesn't mean you are a cowboy if you are not VAT registered it just means you will be able to quote competitively against larger companies who are VAT registered.you might be competing with cash in hand types though so potentially not a huge plus:D

not being VAT registered will reduce the burden of the admin required which might be important during the initial start up period!

if he is successful, he will need to deal with VAT eventually though (you hope):D

We're gonna have a chat with the accountant and see what he has to say, I think we're going to set up the non-trading ltd just for the long term future and yes I do really hope we'll need to be VAT registered one day :rotfl: