Hi everybody, I'm really stuck and I don't know what to do......
I'm a qualified hypnotherapist, and I have a practise in which I offer hypnotherapy every Saturday. After room rental, I make £38 per appointment and see on average two or three people every week.
During the week, I have a main job in which I earn £62k per annum. Over time, I would like to expand the hypno business.
I know that the hypnotherapy business is not huge, but nevertheless, I want to avoid a tax man knock on the door and want to keep things safe and legal.
I've been too-ing and fro-ing on how to make this the most tax efficient - sole trader or Ltd Co? but the more I investigate the more confused I get.
Additional info - I pay about £200 per year in insurance and professional memberships, £100 on printing, and perhaps £300 on advertising.
Any advice gratefully received
Paul
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