We offer a range of high quality accounting, financial and business services in and around Milton Keynes.

Which business structure?

Choosing the right business structure is essential for a range of business and tax reasons. B2B Business Advisors Limited can help start-ups and businesses in the Milton Keynes area...

You will need to decide which business structure best suits your needs:

  • sole trader/sole practitioner (an individual);
  • a partnership (two or more individuals or companies);
  • a limited liability partnership or
  • a limited company.

There are both advantages and disadvantages for each trading structure in terms of control, perception, support, costs and tax implications.

Each situation must be judged individually. As well as the tax and national insurance issues, you will need to consider such things as the nature and expected rate of growth of the business, the degree of commercial risk, administrative obligations, pensions and retirement, and your personal preferences.

In the early years of a business, operating as a sole trader is often attractive because funds can be used with fewer restrictions. But as your business develops, there may be advantages to incorporating (forming a limited company).

If you are thinking of starting up in partnership, it is essential to have a formal agreement drawn up, and to take professional advice.

Care needs be taken, and we can help you though the decision-making process.

At B2B Business Advisors Limited we have a wealth of experience in providing professional advice to start-ups in the Milton Keynes area about choosing the right business structure, and we can help you through the decision-making process.

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Our handy tax calendar provides an overview of the key tax dates for your diary.

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Calculators

B2B’s interactive tax calculators can be used to calculate VAT due, the taxable benefits on your company car and how much your savings are worth.

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Chartered Tax Adviser

Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.