I am hoping some one out there can answer this question today I was asked if I was going to trade as Limited company. Is there anyone out there able to tell me what benefits there to trading as a Ltd company as opposed to sole trader.
I have moved topic to the Owner’s Forum where it may receive better informed replies.
Thanks
From what I remember when I used to own a small market stall years ago. If you trade as a limited company you must use headed stationary etc, you are open to take over etc (if you ever get that big), there are a lot more nasty regulations. I would ask your bank manager for proper advice.
Sorry I can’t be more helpful 
Mike-If you become a limited company you could save quite a bit off your income tax.
A mate of mine was going to do it ,untll we got talking about the
48 hr week coming in next year, and to my way of thinking you become an employee of your company., therefore losing your owner driver status,
This is just my opinion on this, but I would think if you are a sole trader you should check it out.
Regards Tony 
I did a search on the old forums because I remembered this coming up before there are some good answers to be found here.
trucknetuk.com/bbsuk/Forum6/HTML/000319.html
cheers
STEVE.
Just a little bit off topic but: Self employed,Limited or Sole Trader you have to be careful how the taxman Inland Revenue see it.
I had a lot of problems convincing them I was self employed as I was running one truck getting work from one company officially. I was a sub contractor and getting paid on return of cmr but when I had a tax examination they made out I was just a driver! I was that driver who paid for his own truck, fuel, tyres and insurance. Be warned. The VaT can use the same argument
being a limited company has it pros and cons same as everything in life i recently went ltd to safeguard my assets.
yes you do pay company tax on a ltd company but only if your profit is over 10k a year (so spend it before the tax man has it)i.e year end get your new truck or your light bars or your alloy wheels or company computer or anything as long as it goes back in the business i.e not profit at year end.
you will pay less personal tax as you no longer pay tax on your profits ( the company does )
you will need to re-apply for an o license (ltd companies need their own) you will be the TM
you will need a new bank account (ltd companies have to have their own account)
same with the v.a.t
if you think of a limited company being another person that you work for you wont go far wrong…
but if things go wrong as a employee of the company you just walk away 
Mike:
I am hoping some one out there can answer this question today I was asked if I was going to trade as Limited company. Is there anyone out there able to tell me what benefits there to trading as a Ltd company as opposed to sole trader.
When you become a LTD you are an employee of the company. You do not just withdraw money as you need it, but have to process your wages trough the PAYE system as an normal employee( you may need a wages cerk !!! I know someone that is doing it all just by fax or e-mail etc 
).
You also need to sentd reports and year end accounts to the Companies House. Untill last year dividents paid to directors of LTD were free of National Insurance Contributions~11%. I think GB is fixing this with this year’s budget.
Hope this helps a bit.