1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Ltd vs llp (uk)

Discussion in 'Business & Tax Advice' started by ShadeDream, Mar 29, 2009.

  1. ShadeDream

    ShadeDream Elite Member

    Joined:
    Nov 27, 2008
    Messages:
    2,209
    Likes Received:
    5,230
    Location:
    He who laughs last, laughs longest.
    I need advice on which company type to register under. I currently earn $0 in IM but I'm looking forward to slowly building up. I will be doing this with a friend and I need advice on which type of a company in the UK is better to register for in my case. I'm 17 by the way. I was thinking of getting an LLP with my friend but I wanted to seek advice here on which would be better and easier to apply for etc.
     
  2. sugarpimp

    sugarpimp Registered Member

    Joined:
    Jul 17, 2008
    Messages:
    60
    Likes Received:
    54
    Location:
    Virtual World
    When you making $0 I can`t understand why you want to set up a company, I would first focus to make money and then set up a Ltd. It also depend wich kind of IM you are doing, if you doing adult/warez related stuff, I would set up also a kind of offshore company cuz else you will be soon have a lot of trouble, even with a Ltd or LLP.
    Like I said before, first try out if you can make money with IM cuz I know and saw many people who gave up before making any money...
     
  3. ShadeDream

    ShadeDream Elite Member

    Joined:
    Nov 27, 2008
    Messages:
    2,209
    Likes Received:
    5,230
    Location:
    He who laughs last, laughs longest.
    Thanks for your advice but I'm still going to first make an LLP. Why? It will secure me from giving up. ;) And anyway if you would have been at DIM you would know why I want to do this. :)