Help Keep Boards Alive. Support us by going ad free today. See here: https://subscriptions.boards.ie/.

https://www.boards.ie/group/1878-subscribers-forum

Private Group for paid up members of Boards.ie. Join the club.

Hi all, please see this major site announcement: https://www.boards.ie/discussion/2058427594/boards-ie-2026

Ltd company V's sole trader...

15-01-2016 05:14PM

#1

Youngblood.III

Site Banned Posts: 777 ✭✭✭

Join Date: March 2015

Posts: 713

What are the main benefits from one over another?
Basic breakdown will do...I'll be seeing an accountant soon.

0

Comments

#2 15-01-2016 07:09PM

adrianw

Registered Users, Registered Users 2 Posts: 236 ✭✭

Join Date: November 2014

Posts: 232

Youngblood.III wrote: »

What are the main benefits from one over another?
Basic breakdown will do...I'll be seeing an accountant soon.

Unless you're going to be making lots of cash, sole trader is your best option.
Less paper work and benefits of Ltd will be outweighed by cost completing financial statements, payroll (even if just for yourself) and Company secretarial requirements.

Sole trader only year end personal tax return required (and periodic VAT if turnover threshold exceeded).

Sole trade can do everything company can do.

0