UK LTD or Sole Trader ?

[bonox]

I can't figure out what would fit my needs best. I have a small size business, roughly 7000 euro a months. Working everywhere and nowhere at the same time, all online.

Today I just receive the money from paypal and crypto in my personal bank account. I feel it to be a little risky and that I need to do something.

The UK LTD is appealing to me, cheap and easy, I'm not a UK resident actually I have a German residency but have not lived there for years.

 

[Martin Everson]

bonox said:
Today I just receive the money from paypal and crypto in my personal bank account. I feel it to be a little risky and that I need to do something.
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Which country is bank located in? You could be on borrowed time sadly.

bonox said:
The UK LTD is appealing to me, cheap and easy, I'm not a UK resident actually I have a German residency but have not lived there for years.
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Where are you actually resident then?

You can read my thread below on UK Ltd. I give a rough example of what effective tax could look like if you live in UK.

P.S Tax free allowance has now increased to £12,570.

https://www.offshorecorptalk.com/threads/best-tax-strategy.29734/post-135981

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[bonox]

Martin Everson said:
Where are you actually resident then?
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Norway

Thank you I will read that thread, hopefully it can help me.

 

[EliasIT]

Why would you ever consider doing business as sole trader. Get yourself a cheap UK LTd and don't worry about the future.

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