Real Stories: Katie Smith, Sole Trader switched to Limited Company
Katie Smith began her business in early 2014, offering outsourced business development to a roster of UK clients.
Katie says: “I started as a sole trader because this was my first venture into self-employment and my income was initially very small. I grew very quickly and after using Flow’s calculator app realized that switching to limited company status might help me save tax.
The decision proved right, Katie saved over £4,200 in year one by registering as a limited company. She employed Flow to manage the process and look after her finances at a cost of £99 a month. This has resulted in Katie being £3,012 better off each year.
She adds: “Knowing there’s less risk also gives me peace of mind – I hated the thought that I could lose everything if my business struggled. I still work as hard as I possibly can, but I can now see a greater separation between my business and personal finances.
If you are interested in discovering how cloud accounting could help grow your small business, please contact:
Chris Wrighton, FCA
0330 123 5577