new business...which one is best LTD, Partnership etc

luca_duca

my OH and I have just started a tiling business. We need to register it now and i'm a bit confused as to which is the best type to go for, LTD, Partnership etc??

As we have only just started we can't forecast how much we are going to make

what would be the best type of business to go for and does it make a difference that we are also employed?

mikewebs

Hi there

First of all, I would advise you to look aT WWW.COMPANIESHOUSE.GOV.UK they have loads of information and advice there. Also check out www.hmrc.gov.uk just to make sure you cover all the bases on your tax situation. It might also be worthwhile talking informally to your bank's new business manager to see if they can advise you. Oh yes and check out local business advice organisations they can often be very useful and informative!

Get as much information as you can before you commit yourself to sole trader, limited liability etc.

Good luck with your venture.

richt71

I'd advise ringing round some local accountants usually they'll give you a free first consultation where you can go into your situation. They'll advise the best solution for you as there's not just tax but liability to think of.