01753 830888 Mon to Fri 9am to 6pm

COGS Accountancy - what we do

A Path for
Success

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We create an individual accountancy package for each and every client

Whether you are a sole trader who is just starting out or an established business, our team provides all the support and advice you need to keep your accounts in order and run your company effectively.

Our Services

Our Services

Accountancy
  • Annual Financial Statements
  • Management Accounts
  • Accounts for loans and mortgages
  • Cash flow analysis
Taxation
  • Corporation Tax
  • Personal Taxation
  • VAT
  • PAYE
  • CIS
  • Overdue years
  • Tax planning
Bookkeeping
  • Xero processing and training
  • Expense maintenance
  • Procedure and document planning
  • Outsource your entire bookkeeping process
  • Digitising for the future
Business Advice
  • Individual structure advice including trading entity type and ownership
  • Extraction planning
  • Asset and consumable purchase advice
  • Time and productivity consultancy
  • Building and maintaining your team
  • Growth planning
  • Exit planning
  • Lifestyle planning
  • Work/life/perspective consultancy
  • Mortgage and finance planning

A common question asked by the self-employed is whether to trade as an individual or a company

Sole trader vs limited company

Whether you choose to operate as a sole trader or a limited company has implications for tax, legal and financial responsibilities. It will also affect how much paperwork you need to complete to get started.

But what is the difference between the two structures?

And which one is the best fit for your business?

What's The Difference

A sole trader

A sole trader is the exclusive owner of a business. As a result, they keep all profits after tax has been paid while also being liable for all losses. It is easy to get started as a sole trader and paperwork is relatively minimal.

A limited trader

A limited company has its own legal identity, separate to its owners. This means that personal assets are not exposed and the owner of a limited company is responsible for its debts but they only stand to lose the amount of capital they invested.

There are undoubtedly advantages and disadvantages to each structure and it is the unique circumstances by which a business is run that determine which is the best route to follow.

Would you like to find out more? We would be happy to talk it through with you and find the help set you on track to financial and business success.

Contact Us
Sole trader and limited company explained

To arrange a meeting call 01753 830888

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