How to cut your tax bill

Entrepreneurs should consider both arguments in the sole trader vs company debate

29th January, 2017
2

When starting a new business, all entrepreneurs consider the business structure, however briefly. For some, the thought process is limited: ‘Well, I want to keep taxes down and the corporation tax rate is 12.5 per cent, which is obviously lower than personal tax rates of 50 per cent-plus, so I’ll operate the business through a company.’

They rush off and incorporate a new company, often spending more time thinking about the company name...

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