Sole trader or Ltd company

[Quattromaster]

Afternoon folks, advice needed on if it is best if I went ltd (I already own the name), just sitting dormant at moment, few details below.

Sole trader at present, 4 employees plus myself, trading 12 yrs, no real debt bar finance on 1 van of 14k, approx 45k in bank and owed 30k.

I have some rental properties that added to business income means I'm paying 40% tax on approx 30k profit.

Speaking to people they say I'm better off going ltd, as paying more tax than I need to at moment, things like 19% corp tax and tax free dividends are being mentioned.

Spoken to my accountant and he seems non to keen to go ltd, but without giving me a reason.

Welcome any pointers folks, thanks in advance.

[Quattromaster]

Would these figures help at all.

The business turns over approx 295k a yr, add my rental income and I average out approx 70-75k a yr profit

I know I will always have to pay tax, it just seems I may be paying far more than i need to.

[Quattromaster]

Blimey, lots of interesting reading and info, many thanks to all involved.

Ref the goodwill payment thingy, I started my business on the date mentioned, 1st April 2002, would you believe it,lol.