Sole trader Vs Limited Company
Does anyone have advice on someone who is going to be running a chauffeur and Taxi business with a turnover of about £30,000 per annum. There will be a limo and a taxi brought into the business as assets, as I have been asked if he should start as a sole trader or set up a Limited company. Which would be the most tax efficient method?
I also wanted to know how the treatment of vehicles differ, depending on how he sets his company up.