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Lets consider a situation.
Mr A has a full time job working as an IT Engineer earning a salary from employment of £70000. He wishes to pursue a side business and wants to provide IT consultancy/support to few of his clients. He forecasts to earn an additional £20000 annually from his consultancy work. Is he better off operating as a sole trader or as a Limited Co taking into account that Mr A is a high rate tax payer?
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