Are you unsure as to whether start your business as a sole trader or limited company? What are your views on which legal structure is most beneficial? Let us know in the comments below.

@shriradhashrikrishna8269

3 жыл бұрын

Hi can you please make a video on drop shipping i mean what taxes do a person need to pay in Uk if he wants to run a drop shipping business via shopify

@spidermain

2 жыл бұрын

@@shriradhashrikrishna8269 you seriously asked this when drop shipping is no different than any other business and it takes 2 minutes to Google search? Sorry dude you are bound to fail

@shahidmehmood6262

2 жыл бұрын

I registered on ATA, could you share yax ordinance book of uk

@taryn4080

2 жыл бұрын

@@spidermain lol solid response to trolls?

@jesusiscoming6817

2 жыл бұрын

Yes, I'm unsure if to start as a LLC or sole trader.

as a 20 year old this is extremely helpful, i can’t believe you don’t learn this at school to be honest

@tonydCFO

3 жыл бұрын

So pleased you found this helpful, Joe!

@sdrawkcabUK

3 жыл бұрын

Schools are there to get you to pass exams, that is all.

@tonydCFO

3 жыл бұрын

Hi Joebsneakz IG, we tend to agree. Schools are too academic and fall badly short on financial skills.

@renegary1660

2 жыл бұрын

Oh my god, please not this discussion about "school doesn't teach us taxes" again...

@tvenpyksas

2 жыл бұрын

In school and college not point learn it . Gov program school shit . Just looking what best for gov but not for people… . Great video thank you 😊

This guy should be a news caster. Brilliant delivery

Was showed this video at university, perfectly explained and delivered a clear understanding.

Nice video however. Where is the link to download the decision tool?

Hi Tony. Thanks for all information you shared. Appreciate it.

@tonydCFO

3 жыл бұрын

Hi Serkan, thank you very much for your positive comment. If you ever need specific accounting and tax assistance, please don't hesitate to reach out to us at the following link: calendly.com/aidhan/i-have-a-query-and-need-to-talk-with-an-accountant

Thank you such a useful video and straight to the point 😊

@tonydCFO

2 жыл бұрын

You're welcome Sonia 😊

Extremely helpful video. Thanks for sharing your advice

@tonydCFO

2 жыл бұрын

Hi SandoTrini thank you for your positive comment and support 😊 I'm really grateful that my content is useful and adds value to you.

Very informative. Thank you.🙂

The free decision tool isnt there, it just sends you to a blog that says the tool exists but it doesnt tell you how to download it though.

until 25.000-27.000 sole trader after this Ltd simply as that,to open a business you need to have profits Ltd for just to showoff it's a mistake that you will pay by your own pocket

clear and useful. Thanks

@tonydCFO

3 жыл бұрын

You're welcome Keith.

Ltd mean that you have serious profits if you don't you will pay from your own account the Limited admin/accountant

The decision aide tool is nowhere to be seen by clicking that link.

Subscribed, thanks 👍

@tonydCFO

3 жыл бұрын

Much appreciated Rizwan.

I can't seem to find the tool you discuss in your video?

Thanks for the great work with this video 😊 not sure if you've covered this in a previous video, but what kind of company (LTD?) would I need if I were to plan on starting a youtube channel, maybe sell digital/physical products in the future? And under what SIC number/nature of business? Thanks in advance

Tony. I followed the link to you free decision tool download but cant find it?

do you have any idea of forming ltd for trading stocks and what accountant expertise do I need.. thanks for the video ^^

Very useful Information, thank you so much I will be following you everywhere you go now 😂. Please guide me on this👉 I'm in the Uk, I'm trying to set up my skincare business but still doing my research on handmade cosmetics regulations and company registration. And your content has given clarity in some areas. I'm also looking at running a KZread channel as well to talk about my Products and give some free recipes. My question is do I have to register my KZread name and my actual skincare brand name separately? for example I use XXW on KZread and I have SSB as my brand name/logo, do I have to register both names separately? I'm sorry if I sound confusing, but I do hope you do understand my question. Thanks again.

Good video , thank you

@tonydCFO

3 жыл бұрын

You're welcome Zayn.

Can't see to find the link to download the decision maker - any help would be appreciated

Good Information Tony! Very clear, concise and precise. I am a foreign entrepreneur from South America. As a comment or a suggestion, you did not mention anything about offshore companies: advantages, risks, tax, liabilities and property security. It would be a good idea to make these comparisons among such companies, what do you think? Also, include your address for consultation. Thanks.

Hi, thanks for the info, I just started watching your videos, and I do enjoy them, My question is, how can someone protect digital assets by creating a limited company. In the current environment, which is not on the up, but with a long term vision in mind.

Can I register sole trader company using national insurance number? Because I don't have uk passport

Awesome vid bud. Will definitely hit you up sometime.

@tonydCFO

2 жыл бұрын

You're welcome Send The Fire 😊

Hi Tony right on time , when I needed you the most hahah... very helpful and you got my subscription and like too :-) I want to go into clothing business and they are asking me for seller permission , does it mean the sole trader or limited permission ? and if it can you get either one of them even tho I haven't started selling ? Thank you in advance

@rehmanaghafoor786

3 ай бұрын

Hi I just read your comment and now I’m in same situation that you were 2 years back. Can you please advise and suggest then how you closed your company by clearing your above asking queries? Thanks

Great Video Aidhan

@tonydCFO

3 жыл бұрын

Thank you ENQ

Hi how do i download the tool

Can’t find the free download tool document

You say the taxes up to 20k are similar but above 20k there's less tax to be paid as an ltd. If I'm the only shareholder of my ltd company and want to take all profits out as dividends (including salary up to tax free amount I think £12500) then the tax as ltd company is way higher (over 100k a year) cos I have to pay corporation tax plus tax from dividends. I suppose having an ltd company is only beneficial if I don't need all of the profits immediately( less dividends) and will sell my ltd company in let's say few years. Am I missing something? Could you explain pls?

Hello Tony, thank you so much for a very informative video. I have been doing accounts for my husband for his sole trader business for 5 years, recently his profit has exceeded more than 50k and we are thinking if switching to limited company. Do you think we can save some tax doing so please? Wondering which one will be more tax efficient? Thank you 🙏

@tonydCFO

2 жыл бұрын

Hi Ginnie, I would suggest that in general, once your sole trader profits > £30,000 per annum, then you should start weighing up incorporation to a Ltd Co. Whether in your specific situation it would be more tax efficient, would need to be evaluated.

Hi. Just want to ask if I already have a limited company using it for a couple of years and then would like to add another business line which is totally different in nature under 1 limited company, how do I create it? At present I have 3 SIC registered, can I add another 3 SIC that is totally different? Thanks

@tonydCFO

3 жыл бұрын

Hi Paulo, so we can assist you with this request, why don't you book a 20 min discovery call which is free of charge. A qualified accountant can then help you in more detail. Book Here >>> aidhanfinancial.com/book-a-discovery-call

Hi Tony, nice and informative video. What if you have a job earning around £35,000 and also was a sole trader that was doing well but went Limited and due the market at a loss (Profits 2019 £333, 2020 £4790, 2021 was considerable due to covid) 2022 Went Limited but at a loss due to expanding premises but not making sales targets. I'm thinking of either closing the Limited company and go back to Sole Trader or I could keep the Limited company but work from home as I did before.

Tony: can you please revisit this analysis based on the tax changes in the 2022 autumn statement? It seems to me that, other than VAT maybe, there will soon be no benefit to having a Ltd Co as a single director. Accounting costs for a Ltd Co are also increasing rapidly..! Thanks in advance.

@tonydCFO

Жыл бұрын

Hi Kevin Syd thank you for the suggestion 😊 I will put this on the production roadmap and release an updated version soon

Thank you for the useful video. I'm about to move to the Uk to work as a freelancer. My plan is to work as a freelancer both in the Uk and Italy. Basically, being a woodworker, in the Uk I would work for another company while in italy I would make my own pieces for private clients. Which of the two options would fit better my needs? thanks a lot

@tonydCFO

2 жыл бұрын

Hi Mattia thank you for your question. You can go along to our Q&A section where you can post your question and get a response from a qualified accountant or chartered tax advisor >>> accountingtaxacademy.com/qa-section/

Thanks for that valuable information. I have registered a dormant limited company for a while . However, I am planning to start my business as a sole trader before turning to that dormant limited company once my business is proven profitable. I have made sure my sole trader business has a different name to avoid any coalition with the dormant limited company. Was that a bad strategy on my part??? I'm now seriously concern about my strategy.

@tonydCFO

3 жыл бұрын

Hi Tino, for your question, we recommend you have a call with one of our accountants who can advise. The call is max 20 mins and free of charge. You can book here >>> aidhanfinancial.com/book-a-discovery-call

Jeez , help me. I paint for a company and work nights for private customers. I do Send invoices but my evening work isn’t regular. But I have caught attention of a lot of customers. So it’s picking up slowly.What do I do let HMRC know I do both or how ?????

How do you dissolve a sole trader business? If a sole trader business was dormant do you need to dissolve?

I’m about to create a LTD company to buy property for BTL. Can you advise me that when incorporating the company WHAT IS the correct wording of the model articles have been incorporated regarding a sole director

@tonydCFO

Жыл бұрын

Hi V LN - in most cases the model articles will suffice - there are many reasons as to why you may want to amend the articles, so it depends on how you want to structure things - best speak to a qualified accountant directly as time is needed to go through carefully

@VLN-ho1pp

Жыл бұрын

@@tonydCFO many thanks..

If in full time employment and earning over £45k what do you recommend to go with?

Starting a company seems way more technical, especially for a new comer

Hi Tony... The decision aide tool link takes me to a paragraph with no obvious links to the tool itself. Can you pop a link to the doc here at all?

What about when you earn more than 50,000 pounds in your day job but run a side business that earn about 10,000?

Can't get the link for decision mate, just keeps taking me to a video.

@tonydCFO

2 жыл бұрын

Hi Frosty - sorry about this we had a few tech issues - should be fixed now if you want try again

What if my company does not make any money or lose money in the 1st year do I have to pay taxes ?

@tonydCFO

3 жыл бұрын

Hi Maria, if your Ltd Co makes 0 profit or losses, then no corporation tax is payable in that company year.

@AliBabaVlogsSub

3 жыл бұрын

@@tonydCFO hi I'm sole trader on my 2nd Yr tax period n now I recieved and paid NI class 2 but I've nt made any profit yet no customers since reg to HMRC as sole trader so why do I have to pay NI class 2? Confused 😕 if I reg as Ltd will I have to pay tax n Corp tax even no profits the end year period? Thx

Heyyy abit piste but your intro is awesome! How did you do the animation?

@tonydCFO

2 жыл бұрын

Hi taryn4080 thank you for your positive comment and support 😊 My video editor used Viddyoze to do the animation

Hello Aidhan ,So I am starting a cleaning business, from the video, a sole trader is better right?

@tonydCFO

2 жыл бұрын

Hi perfectpeace, there is no one size fits all to this. If you download the decision tool, then hopefully this can help you make an informed decision, based on your circumstances and objectives. I hope this helps.

Hi I can’t download the tool unfortunately is there any other way?

@tonydCFO

2 жыл бұрын

Hi Mina - sorry about this, a few tech issues - we'll get resolved asap

@tonydCFO

2 жыл бұрын

Hi Mina - our links have been fixed so you can try again

@minedavies9688

2 жыл бұрын

@@tonydCFO thank you :)

Need some big advise what do you charge for your service

@tonydCFO

2 жыл бұрын

Hi Mark - you can book a discovery call with my affiliated partner here >>> aidhanfinancial.com/book-a-discovery-call

Excellent explainer video. Thank you! I'm off to use your Sole Trader V's Ltd Company score sheet. :)

So what ahppens if you as a business owner with LTD borrow a loan and you cannot pay back and you ltd is going to be bankrupt?

@tonydCFO

2 жыл бұрын

Hi Swami - if you cannot pay it back, then your LTD Co is at risk of becoming insolvent and therefore compulsory liquidation may be imposed by your creditors - I would advise you speak to your lender at your earliest in an attempt to re-structure the loan

I've been sent here from school

@tonydCFO

2 жыл бұрын

Welcome to our channel Meaha

Great videos but your website layout, navigation & CTAs need a lot of work! The user experience isn’t great especially on mobile devices. I went to download the checklist & there is no option to do so. Same for multiple articles, no links for pdfs. The static message you have placed with an image of yourself takes up too much of the page! You clearly give sound tax advice but you need a better web designer!

What

No free tool

they can take the kids and good luck to them.

Iiulikk

yiur web links don work

@tonydCFO

2 жыл бұрын

Hi Kam - sorry about this, a few tech issues - we'll get resolved asap

@tonydCFO

2 жыл бұрын

Hi Kam - are links are now working again - thank you for highlighting this with us :-)

well DONE @jenniferlondonjames

@tonydCFO

3 жыл бұрын

Thank you Jennifer