Accountants advise:
When you first set up your Business, did they advise you to trade as a sole trader?
Was the reason to save tax? It usually is!
Well you insure your life, house and car, so why not insure your Business, by way of a Limited Company.
You can control your Business, but you cannot control the economic climate, and all the other elements that go with it.
Limited Companies do have their drawbacks i,e. Audits, creditors not wanting to give credit, accountants charging more, because of the extra work in preparing the year end.
Having a Limited Company gives you that extra confidence when the climate gets tougher, and creditors start to demand quicker payment.
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