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Old 24 June 2004, 03:58   #11
Country: UK - Wales
Town: Barmouth
Boat name: Blue Marlin
Make: Ribcraft
Length: 7m +
Engine: Yanmar 315/Bravo 2X
MMSI: 235020218
Join Date: Jun 2003
Posts: 826
Thanks Paul.

I've spoken to an accountant, and he said much the same thing. Recent changes in the law mean that Ltd Co status actually doesn't protect you (or your assets) if you are found to be at fault - and it is easier (and cheaper) to set up as a Sole Trader.

As far as I can tell, at least initially, from a taxation point of view ST would be simpler to set-up and manage.

And from a risk point of view, I think I'll have to rely on good insurance, lots of training, and whatever common sense is left between my ears (not necessarily in that order)!!


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