Accountants based in Sidcup, UK

Choosing the right business structure is essential for a range of business and tax reasons. Opass Billings Wilson & Honey LLP can help start-ups and businesses in the Kent area...

You will need to decide which business structure best suits your needs:

  • sole trader/sole practitioner (an individual);
  • a partnership (two or more individuals or companies);
  • a limited liability partnership or
  • a limited company.

There are both advantages and disadvantages for each trading structure in terms of control, perception, support, costs and tax implications.

Each situation must be judged individually. As well as the tax and national insurance issues, you will need to consider such things as the nature and expected rate of growth of the business, the degree of commercial risk, administrative obligations, pensions and retirement, and your personal preferences.

In the early years of a business, operating as a sole trader is often attractive because funds can be used with fewer restrictions. But as your business develops, there may be advantages to incorporating (forming a limited company).

If you are thinking of starting up in partnership, it is essential to have a formal agreement drawn up, and to take professional advice.

Care needs be taken, and we can help you though the decision-making process.

At Opass Billings Wilson & Honey LLP we have a wealth of experience in providing professional advice to start-ups in the Kent area about choosing the right business structure, and we can help you through the decision-making process.

Try a site search Tax return, dividends, pension, audit...

Company details

0208 3002307

Opass Billings Wilson & Honey LLP, Numeric House, 98 Station Road, Sidcup, Kent DA15 7BY
About us

Led by a management team qualified and experienced in our business disciplines, and assisted by technical and administrative personnel, we offer a wide range of business, tax and advisory services.

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Registered in England. Partnership No. OC341377. Registered office address as above.