Q. If I have a contract with a company for 1 year and I need to set up my own business, do I have a limited business or sole trader?
A. We cannot advise you on whether to set up a limited company or operate as a sole trader.
There are many factors to consider, such as your personal financial situation, if you operate in the public sector, your probable IR35 status, how long you intend to trade for, whether the contract dictates a particular trading style, and so on. There is not a particular way of trading that you “should” take. Ultimately, this is your decision to make.
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