What is the best business structure for tax purposes?

Operating a business tax efficiently is a major consideration to all those in business. The choice of a suitable business medium for example, sole trader, partnership or limited company may have a substantial impact on the level of reliefs, allowances and tax levied on your business.

Over recent years there have been a number of changes which may affect such a choice. We are taking this opportunity to review the key issues to enable you to minimise tax liabilities.

We also consider the issues which impact on changing the business structure from unincorporated to a company, including the recent changes to the treatment of goodwill on incorporation.