Handyman Plus Van Sole trader

The article provides a comprehensive comparison between sole trader and limited company status, highlighting the pros and cons of each. It’s great that you, Ian Croasdell, operate as a sole trader under the name http://www.handymanplusvan.com, as this status is indeed well-suited for certain businesses, including one-person operations like yours.

As a sole trader, you have full ownership and control over your business, allowing you to make decisions independently. Here are some points to emphasize regarding why sole trader status is perfect for businesses like Handyman Plus Van:

1. **Full Ownership:** You have complete ownership of your business, which is ideal for single-person operations or small businesses with no additional partners or shareholders.

2. **Easy to Get Started:** Sole trader status is relatively simple to set up with fewer administrative burdens compared to limited companies.

3. **Personal Touch:** You can offer a more personalized service to your clients, as they directly deal with you, building a stronger rapport.

4. **100% of Profits:** You get to keep all the profits after tax, which can be advantageous for a small business where every penny counts.

However, it’s essential to be aware of the potential disadvantages, such as unlimited personal liability for business debts. While sole trader status is suitable for many businesses, it may not be the right choice for those with complex financial structures or multiple owners.

In your case, as Handyman Plus Van operates as a one-man band, being a sole trader allows you to maintain simplicity, independence, and a direct connection with your clients, making it a perfect fit for your business model. If you ever plan to expand or have complex financial arrangements, you can consider transitioning to a limited company in the future. But for now, your sole trader status seems to be serving your business needs well.