To trade as a Ltd company or not

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 :laughing: ).

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.