Second business sole prop or LTD?

Discussion in 'Growing and Managing a Business' started by jamie mckenzie, Nov 11, 2015.

  1. jamie mckenzie

    jamie mckenzie
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    Nov 11, 2015
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    I own a third of a LTD company to which i am employed. We pay ourselves 9,999 per year as to not pay income tax & top up our money with dividends.
    I am now looking to start a separate entity selling through Amazon/Ebay, my estimated turnover will be £6,500 - £7000 per year, of which 50% will be profit. Should i register a LTD company or go sole proprietor for the second entity? I know any income over £10,000 will enter the realms of income tax, i just would like to know the most cost effective solution of Which is the best option?

    Thanks in advance.

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