Description
A guide to the key differences between sole trader and limited company status for freelancers in the UK, with a decision framework for your specific circumstances. It is a starting point for the decision, not a substitute for accountant advice.
What’s included
- CSV template file (opens in Google Sheets or Excel)
- Sole trader vs limited company comparison with key differences
- Tax implication summary with worked examples at different income levels
- A decision framework checklist covering your specific circumstances
Who it’s for
Useful if you are deciding which structure to operate under, or if you made that decision early and have never revisited it as your income has grown. Not suitable as a substitute for professional advice. The guide helps you understand the trade-offs and ask better questions of an accountant, it does not replace that conversation.
If it works
If you work through the decision framework and note where your circumstances sit, you will arrive at an accountant conversation with a clearer sense of what you are actually deciding, which tends to make the advice you receive more useful.
The right structure depends on your specific income, circumstances, and risk appetite. General guidance, including this guide, cannot account for all of that.
Before you download
- This is a CSV file. Open it in Google Sheets or Excel. It will not work as a document or a PDF.
- After downloading, you will find the file in your account under My Downloads.
- You are getting a licence to use and adapt this for your own work. You cannot sell, redistribute, or share it with others.
