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Which business structure?

Which business structure?

Choosing the right business structure is essential for a range of business and tax reasons. Attwoods can help start-ups and businesses...

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 Attwoods we have a wealth of experience in providing professional advice to start-ups about choosing the right business structure, and we can help you through the decision-making process.

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Bromsgrove01527 874170
Evesham01386 424388
Pershore01386 554870
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Bromsgrove
Bromsgrove

Attwoods is proudly based in the historic market town of Bromsgrove, Worcestershire

  • 182 Worcester Road
  • Bromsgrove
  • Worcestershire
  • B61 7AZ
Call us01527 874170
Learn more about BromsgroveGet in touch
Evesham
Evesham

Attwoods is proudly based in the picturesque town of Evesham, Worcestershire; nestled in the heart of the Vale of Evesham

  • 90-92 High Street
  • Evesham
  • Worcestershire
  • WR11 4EU
Call us01386 424388
Learn more about EveshamGet in touch
Pershore
Pershore

Attwoods is proudly based in the Georgian market town of Pershore, Worcestershire.

  • Perrott House
  • 17 Bridge Street
  • Pershore
  • Worcestershire
  • WR10 1AJ
Call us01386 554870
Learn more about PershoreGet in touch
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The practices of Attwoods are carried on by Attwoods Accountants Limited, Attwoods Business Services Limited, Attwoods (Bromsgrove) Limited. Regulated for a range of investment business activities by the Association of Chartered Certified Accountants.