Sole Trader Vs Limited Company?

[EmMum06]

Is it better financially to register as a limited company or work as a sole trader?

does anyone know of any restriction working as a limited company childminder?

has anyone here registered and worked as a limited company?

Why would you want to?? there wouldn't be any benefits would there, it costs about £600 just to get the books into company house each year.

I don't really know anything about it. A friend suggested I look into it so I thought I would ask here.

Childminders get really good tax consessions i'm really not sure it would be worth it.
If you ensure all payments are made in advance to you then financially I can't see the benefit of being anything other than self employed. I'll ask dh when he gets in as he works for hmrc he may know more, but he has never suggested to me it would be better.
I can do all my own accounts in an afternoon, I don't need an accountant, I would if I was a ltd company.

thanks a lot, I am sure your DH would have suggested it if it benefited you.

I believe in keeping things as simple as possible, it keeps the paperwork simple and keeps the costs down.
I've seen some childminders do the most complicated sums every month, personally I spend a few hours at the end of the year adding up expenses and invoices and its done and dusted.

Ok just asked dh, he said the main benefit is you can pay yourself a dividend whereby paying less tax. But only worth doing if earning enough to pay lots of tax but you have to register with company house which costs.

yy Dan is right