Partnership with a company

partnership

Advantage: transparency (tax once), flexibility in dividing profits. Disadvantage: personal liability, high national insurance.

company

Advantage: 23% corporate tax, personal protection, flexibility in withdrawing profits. Disadvantage: double tax (company + dividend), management costs.

Important Note: The information on this website is for general informational purposes only and does not constitute professional tax advice. Consult a qualified tax advisor before making financial decisions.