Aren't there any other matters to consider in deciding whether to incorporate or not?

Higher administration costs to comply with company law, payroll and bookkeeping is one factor. Another issue is pension planning. Extracting profits out of company as dividends rather than salary means that there will be no "net relevant earnings" and therefore pension contributions can't be made. But advent of stakeholder pension plans has meant that contributions up to œ3,600 per year can be made without need for any earnings. If a person does not wish to transfer funds in existing plans into stakeholder because of high charges, there is a way out: best net relevant earnings (i.e. salary) in five consecutive years can be used for making contributions for next five years, even if there were no salaries in remainder four years. It is comforting to know that entitlement to basic state pension is not affected by taking a salary from company at level of a person's personal allowances i.e. œ4,615.

Furthermore, an individual may decide not to bother with pension plans and instead invest in ISA. Often, these can be more efficient than pensions but that's beside scope of this article. If that option is taken, no salary is necessary.

Another factor is business motoring. It might be tax advantageous for an unincorporated business that owns many cars not to incorporate because if these cars have some private use there will be benefits in kind taxed on users. These are generally higher than straight apportionment between private and business for all car running costs in case of sole traders.

The conclusion is that there can be considerable tax savings waiting sole trader who decides to go down road to incorporation. But, one needs to proceed with caution and careful planning. And don't forget biggest advantage of incorporation, which is Protection from Personal Liability. Incorporating is one of best ways to protect a business owner from personal liability. Shareholders of a company are generally not liable for obligations of company. Creditors of a company may seek payment from its assets, but not assets of shareholders. This means that business owners may engage in business without risking their homes or other personal property.

Thank you for taking time to read this Article. I hope you've found it useful. If you have, please drop me an email and let me know what you think.

You can email me at...

constantinesavva@accamail.com

Alternatively, you can visit our website at http://www.tax-accounting-london.info and read a series of other full length articles that present complete picture on a variety of interesting topics.

If you would like to know how to save tax and make sure that more of your hard earned cash stays with you to expand your business and increase your profits, we have a Free Special Report addressed to small businesses either starting up or already in business. This Exclusive Free Special Report is available automatically when you subscribe to our regular series of Free Newsletters on finance advice and tax planning by visiting our subscription area on our website www.tax-accounting- london.info. It is complied from real life situations dealing with small business tax affairs for over 10 years and it is loaded with down-to-earth advice and practical, understandable examples.

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For example:

* FreeFind will automatically create a What's New page, after you've any changes to site. Just think of how much help that will be for me with my training material? Between my two programs (beginning and advanced), I have over 1000 resource pages to update every single month, and I've been creating "What's New" page by hand. Now, it's automatically created for me.

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* FreeFind will automatically create a Site Map of your site. This Site Map is an alphabetical listing of pages on your site. The Site Map will be even more valuable to you if you have a regular, non-password protected site, because it will give Web search engines a page of links to spider.

* FreeFind will search across several domains. So, if your company has numerous domains, your onsite search engine will cover each of those domains, without having to set up separate engines.

In Conclusion

Look closely at your site. Is it time to add an onsite search engine? Is it time to make sure visitors can find exactly what they're looking for when they land on your site? Are you losing customers who get lost and can't find what they want?

FreeFind (http://www.freefind.com) is an excellent onsite search engine that met my exact needs. However, to be fair, and because this article isn't meant to be an advertisement for FreeFind, here are some other onsite engines that you may want to consider. Look closely at their features, and find one that works best for you.

Other Onsite Search Engines

Atomz: http://www.atomz.com

PicoSearch: http://www.picosearch.com

SiteLevel.com: http://www.sitelevel.com/

FusionBot.com: http://www.fusionbot.com

A listing of numerous onsite search tools: http://www.searchtools.com ools ools.html