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Understanding Tax Liabilities: Sole Traders, Partnerships, and Limited Liability Companies
When starting a new business, one of the most critical decisions you’ll make is choosing a business structure. This choice directly impacts how your business will be taxed, how profits are distributed, and even how you keep your books. In the UK, the most common structures are sole traders, partnerships, and limited liability companies (LLCs). Let’s explore the tax liabilities and...
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