Questions

What is the difference between sole trader and limited company?

Asked by Vidit Agarwal, in Business

Answers

Gemma Alpert Junior  Consultant
A limited company is its own legal identity, so as a shareholder your liability is limited (hence the name 'limited by shares'). As a sole trader, there is little distinction between you and the business. Any business debts become your debts and your personal assets - including your house - are not protected.
May 10th 2018 08:49   
Madhavi Khandwala Junior  IELTS COACHING CLASSES IN AHMEDABAD
Unlike a sole trader a limited company has the benefit of limited liability, as incorporation forms a legal distinction between the business owner and their business. ... Once you've registered a company name nobody else can use it, in contrast to sole traders who aren't offered the same protection.
May 11th 2018 06:14   
SM Kollectionz Junior  We Know what is hot and what is not
A limited company is its own legal identity, so as a shareholder your liability is limited (hence the name 'limited by shares'). As a sole trader, there is little distinction between you and the business. Any business debts become your debts and your personal assets - including your house - are not protected.
May 11th 2018 09:25   
shiema loung Advanced  Healthcare Expert
A limited company is its own legal identity, thus as a shareholder your liability is restricted (hence the name 'limited by shares'). As a sole trader, there's very little distinction between you and the business. Any business debts become your debts and your personal assets - as well as your house - don't seem to be protected.
May 17th 2018 00:34   
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