Should I Go Ltd Co or Sole Trader in 2023? with David Hossein DWI-EP262

Dentists Who Invest Podcast

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Unlock the secrets to financial optimization for dentists with our expert guest, David Hossain, as we dissect the pivotal choice between operating as a sole trader or a limited company. Discover how this decision impacts your tax responsibilities and income control, and why the option to trade as a limited company, available to UK dental associates since July 2006, offers unparalleled financial planning flexibility. We'll also navigate the complexities NHS associates face regarding superannuation and provide a comprehensive look at the UK tax bands to help you make informed decisions about your business structure.
Join us as we break down the financial nuances of withdrawing money from a limited company versus being a sole trader, illustrated through real-world scenarios and graphical representations. Learn how maximizing tax savings can be achieved by strategically withdrawing minimal amounts, and why remaining a sole trader might be more advantageous beyond certain income levels. Tailored specifically for the dental profession, this episode underscores the importance of individual circumstances and strategic financial planning. Tune in and arm yourself with the knowledge to make smarter financial choices for your dental practice.

Chapters

1. Should I Go Ltd Co or Sole Trader in 2023? with David Hossein DWI-EP262 (00:00:00)

2. SoulTrader vs Limited Company (00:01:23)

3. Comparing Tax Impact (00:13:12)