Freelance photo-journalist

[journoman]

Hi, I am giving up my permanent job to become a freelance photographer. Would I be better off by incorporating or by being a sole trader?

[Alan @ BroomeAffinity]

Kind of depends on the money you are likely to be earning. Generally speaking I would recommend Ltd Co in all cases but very small projected earnings as there are compelling reasons (not just tax) for trading through a Ltd Co. However, these, and the tax reasons, probably do not add enough to the business to make it worth the effort and extra cost if you're going to be very small time.

My company has produced a guide covering all the points you need to consider. PM me if you want a copy.

[Gonzo]

Hi, I am giving up my permanent job to become a freelance photographer. Would I be better off by incorporating or by being a sole trader?

You might want to ask the same question on this site http://www.freelanceuk.com/.

There will be people there that are more familiar with your type of circumstances.

[TheFaQQer]

It depends also on how you will be selling your work.

Most IT contractors rely on Employment Businesses to find work, and contract to them. EBs will not deal with a sole trader in case they get clobbered for NI / tax, therefore Ltd or an umbrella company is the only way to work (unless going direct to a client).

If you can "get away" with not having a Ltd then I would do it as a sole trader while you can. But as Gonzo points out, you may be better asking this on FUK rather than CUK.

[journoman]

You might want to ask the same question on this site http://www.freelanceuk.com/.

There will be people there that are more familiar with your type of circumstances.

Thanks Gonzo. I followed the link to freelanceuk and it's just what I am looking for, even has a photo forum!