Which company type is recommended for a massage therapist?

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Hello

My name is Juno, and I’m a massage therapist. I’ve been working on a freelance basis with a couple different businesses, but now I would like to set up for myself. What type of company structure would make the most sense for a massage therapy business?

Answers

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Hi Juno,

You can set yourself up as a sole trader but you might benefit more from registering a limited company. This would allow you to manage your tax and National Insurance liabilities more efficiently, rather than paying Income Tax on all of your profits as a sole trader. You could save a considerable amount of money.

You will also be able to protect your personal assets with limited liability. If anything should go wrong - business debts, a claim made by a client - you will only be personally liable for what you invest in the company.

A limited by shares company would be the best option. You can set this up on your own, but you also have the option to hire other people to work for you and bring in a business partner or investor by selling shares in the business.

If you would like to know more about the benefits of a limited company, please read this guide.

10 months ago
 

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