Business or company credit

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  • pelirocco
    pelirocco Posts: 8,274 Forumite
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    they are companies who will only trade with a limited company
    Vuja De - the feeling you'll be here later
  • Mistral001
    Mistral001 Posts: 5,349 Forumite
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    edited 17 January 2020 at 3:21PM
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    The website the OP got the "credit score" from did not give him an actual credit score for himself as a sole trader or a Ltd Company.

    As far as I can see it is just a projected score based on the half dozen questions or so he answered anonymously on the website. It looks a bit like a student project in fact.
  • torrence
    torrence Posts: 95 Forumite
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    pelirocco wrote: »
    they are companies who will only trade with a limited company

    If this is so then it may be worth considering forming a limited company.

    I think there may be tax advantages to being limited. But limited companies have to prepare more documents so it is extra admin.
  • Mistral001
    Mistral001 Posts: 5,349 Forumite
    First Anniversary Name Dropper First Post I've been Money Tipped!
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    torrence wrote: »
    If this is so then it may be worth considering forming a limited company.

    I think there may be tax advantages to being limited. But limited companies have to prepare more documents so it is extra admin.

    There are pros and cons for both sole trader and Ltd Company.

    There are many threads on this forum on this topic e.g:

    https://forums.moneysavingexpert.com/showthread.php?t=6059074
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