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1. • • A sole trader is someone who runs their own business as an individual and is self-employed. A private limited company is a separate legal entity from its owners and directors. If you’re a sole trader, you’re personally liable for the debts of the business and can lose your personal assets if things go wrong.
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     Sole Trader vs Private Limited Company - Which One to Choose ...

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   What is the difference between a sole trader and a limited liability company?

   • So, unlike sole traders, the owners (shareholders) of a company do not have to use their own, private, finances to pay payables if there are insufficient funds in the business. 2 Share capital and reserves 2.1 Share capital The proprietors capital in a limited liability company consists of share capital A company issues shares

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   What is the difference between a sole trader and a private limited company?

   • Sole trader - unlimited liability, lack of continuity, difficult to raise additional capital. Private limited company - limited liability, continuity, able to raise capital from the sale of shares to family, friends, and employes. Who (a) owns and who (b) controls a public limited company? Explain why this distinction might lead to a conflict.

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   What is the difference between a limited company and sole trader status?

   • The main difference between a limited company and sole trader status is tax. Companies pay 20% tax on profits via the Corporation Tax scheme. However you will have further tax to pay when you take money out of the company. You will pay tax as an individual and an employee of the company.

   Should you set up a limited company for locum GP work?

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   What is the difference between a partnership and a public limited company?

   • Sole trader business - single owner has complete control. Public limited company - the shareholders own the company, but the board of directors controls the company. Using examples of partnership and a public limited company, explain how the legal structure of a business affects in ability to raise finance.

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3. quizlet.com › gb › 773248376Differences between Sole traders and Limited Companies - Quizlet

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   Start studying Differences between Sole traders and Limited Companies. Learn vocabulary, terms, and more with flashcards, games, and other study tools.

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4. quizlet.com › 637255007 › sole-trader-andSole Trader and Partnership Flashcards | Quizlet

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   What is the main difference between Sole Traders and Partnerships? A Sole Trader is owned by one person whereas a Partnership is owned by 2 or more people List 3 drawbacks of setting up as a Sole Trader?

5. quizlet.com › 63732219 › sole-trader-flash-cardsSole trader Flashcards | Quizlet

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   A sole trader describes any business that is owned and controlled by one person, although they may employ workers, e.g. a newsagent's shop. Individuals who provide a specialist service like hairdressers, plumbers or photographers, are also sole traders.

6. quizlet.com › 128695861 › 12-types-of-organisations1.2 - Types of Organisations Flashcards | Quizlet

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   Compare and contrast the benefits of a partnership with those of a sole trader? Sole trader: - Few legal formalities - Profit taking - Your own boss - Personalised service to customers - Privacy Partnership: - Financial strength - Specialisation - Cost effective - Financial privacy