As of April 2015 all barristers have the option of operating as a limited company. As well as offering ‘limited liability’ status, trading via a limited company can offer significant tax advantages when compared to self-employment as a sole trader.
We can analyse your individual circumstances and provide guidance on whether it would be advisable for you to transfer to operating as a limited company. When you’re ready to proceed we can assist you with each stage of the process to ensure that the transfer runs smoothly and maximises your tax savings.
We provide advice on the most tax-efficient timing for the transition and the optimal structure of salary and dividend payments. We can also prepare cessation accounts, which are required if you’re ceasing to be a self-employed barrister.
Once incorporated, we can support you on an ongoing basis with the accounting responsibilities that come with operating as a limited company.
Details on the advantages of incorporating your business and operating as a limited company can be found by clicking the link.
Contact us to find out how we can help you make the move to limited company status.