20 / 60
CD Financial Limited is an appointed
representative of Openwork Limited which is
authorised by the Financial Conduct Authority.
Your home maybe repossessed if you do not
keep up repayments on your mortgage.
Our fee for arranging a mortgage is £195.
NewYear! New Finances?
Are your finances feeling bloated after
a Christmas blow out?
Or is 2016 the year you want to
start thinking about your future and/or
retirement?
If so, why not contact us on 01952 455775
For your Free Initial Consultation
Or visit Claire Dentith at Tax Assist’s Newport
office, between 2pm-4pm every Thursday
Pensions
Mortgages
Investments
Protection
Insurance
financial ltd
20
JANUARY 2016
All About Business - Start-ups
Starting up a new business can be a daunting endeavour.
As an individual, you go from the safety and structure of being an
employee of a company to a person who assumes all of the risks
as well as rewards of being a business owner.
To aid success requires starting off with the right
foundation, here are some legal issues to keep in
mind for your business start-up.
Business Structure
– When starting up a business
you basically have two main choices. One choice is
the sole trader while the other is a Limited Company.
Each of these options has its own advantages and
disadvantages.
Let’s first look at the sole trader type of business. A
sole trader is the simplest form, relatively easy to
start and maintain. In this type of business, there is
no division between business assets and personal
assets. Everything falls under the sole trader’s name.
That means that all income is paid under the sole
trader’s personal taxes. A company, on the other
hand, separates business and personal assets as well
as taxes. The tax advantage of a sole trader is that any
losses by the business can offset any income from
the personal side. Of course, the biggest advantage
of a company is that business liability does not affect
personal assets.