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I can only answer from a UK perspective, but here the difference is mainly to do with ownership.
A 'normal' company is classed as a sole trader and so the money of the company and the owner are seen as the same. If the company gets into debt or is sued, the money can be taken from the company and the owner. So the owner could lose their house, personal savings etc. The benefit of being a sole trader is that the legal requirements are pretty straight-forward so it is easier to keep accounts and complete tax returns.
A limited company means that the company and the owner are separate. Debts can only be paid from the money the company has - the owner cannot lose their private property. The downside to a limited company is that it is often more expensive to run, as there are more legal requirements, such as accounts need to be published and audited. It can be more tax efficient to run a limited company though.
What else can I help you with?
What is the difference between a social entrepreneur and a regular entrepreneur?
A regular entrepreneur is someone who is willing to take risks to make a new venture for profit.. while a social entrepreneur has that in mind, but what makes him or her different is that he/she has a vision to make this venture not only a profitable one, but a venture that can help society for the good.
Regular business generation for Infova Consultancy Services?
Infova consultancy services limited is worlds one of the bigest mnc so they might need BDO
What is busniess?
The official definition for the word business is "a person's regular occupation, profession, or trade."
Do FedEx transit drivers work on Sunday?
FedEx transit drivers typically do not work on Sundays, as the company generally does not offer regular ground delivery service on that day. However, FedEx Express may have operations that include limited deliveries and pickups on Sundays, particularly during peak seasons or for specific services. It's best to check with FedEx directly for the most accurate and current information regarding service availability.
What is the main business of Medisys?
Medisys is a Canadian company that specialises in preventing ill health. It does this by regular health assessments of it's clients. Full details of their services can be found on their website.
What is the difference between crown motors and regular motors?
The difference between crown motors and regular motors is that crown motors is a company, and regular motors are not. Regular motors, are the motors that can be found under a car hood.
Difference between a cordless keyboard and a regular keyboard?
Difference between a cordless keyboard and a regular keyboard?"
What is difference between classifed ads and regular ads?
a classified ad is an advertisement put in a newspaper by someone in your community. a regular advertisement is a company who advertises something for sale at their store.
How are deluxe checks different from regular checks?
There is no difference between regular checks and deluxe checks. Deluxe is the name of the company that makes the checks. For example, there are Deluxe checks and there are BECU checks.
What is the difference between a regular memory card and an Ultra Memory card.?
What is the difference between a regular memory card and an Ultra Memory card
What is the difference between an auto and regular locksmith?
My 16 year old daughter keeps losing her keys? Is there a difference between a regular and auto locksmith?
What is the difference between a regular tessellation and a semi-regular tessellation?
look it upp
Difference between regular polygon and quadrangle?
give me the answer
What is difference between and airmail and a regular?
Airmail is in the air
What is the difference between a regular battery and a vented battery?
a vented battery is vented and the regular battery is regular
What is difference between regular expression and regular definition in compiler?
Regular expression is built in and the regular definition has to build from regular expression........
What is the difference between the Greatest Hits games and regular ones on the ps3?
There is not difference .The only difference is the boxart.
