I'm planning to start my own company. I'm not the best at design, so I'll be outsourcing that aspect of the process to a 3rd party. I wanted to know the financial implications of registering as a limited company, compared to merely being a sole trader. The thought of labelling myself as an MD is very appealing. .

 

What reports / returns do you need to provide for both an Ltd and Sole trader ?

 

I'm trying to assess any potential accounting costs in order to make a decision.

This question has been answered many times so I would use the search function. In a nutshell unless you are earning more than the threshold to qualify as a Limited company (I think its 70k+) you have no legal obligation to do so.