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SeaSquared
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I just wanted to comment on whether you should trade under your own name or a business name. From a purely legal perspective (leaving aside any income tax objectives you wish to achieve), it would be preferable to trade under a company or trust structure so that any liabilities incurred by the business are separate from your personal assets (in a worst case scenario – eg, the business is sued for negligence). If you trade under your own name or under a business name as an individual, there is no distinction between your personal assets and those of the business which means that your personal assets can be used to satisfy any liabilities of the business. If a business operates under a company or trust, the company or trust is treated as separate entity for legal purposes which means that only the assets of the company/trust are available to satisfy the liabilities of the business. (In some cases, a director’s guarantee may be required.) Obviously there are costs in setting up a company or trust and also ongoing costs and you may not wish to incur these. Please note that this does not constitute legal advice.