u/Illustrious_Gold1930

Hello,

I am looking to start my own business in March next year but I have one question, Should I start as a sole trader or a limited company.

I already have my client lined up so the work will already be in place as I will be taking contracts from the company I currently work for.
I was wondering this for tax reasons and how I would go about paying myself, I still live at home with my parents therefore i will be saving as much as I can and am not fussed about paying myself a big wage every month.

Another factor would be costs of setting up the business and paper work. What can i expect from both?

Happy to answer any of your questions to help me come to a conclusion on this. Thanks.

Hello, I will be starting my own business in march.
But i do need some advice if possible,

I will be working as a landscaper taking on work from another company (basically a contract), I am mainly curious wether I sign up as a sole trader or a limited company.

I am interested in saving as much as I can and reinvesting into the company. I am fine to not receive big pay slips each month as my main goal for now is to build capital.
I have all the necessary tools and a van lined up for myself.

What type of business has the best tax advantages?
Whats the best way to pay myself?
If i want to potentially hire someone further down the line what type of company is best?
Are there any costs i should take into consideration with both types of buisness?