The new company initiative scheme, as well as the minimum taxpayer scheme, is a significant facilitation in the management of your business.
If you wish to start your business in the form of a sole proprietorship, you may want to choose this scheme.
Therefore, a firm set up as any other kind of business entity cannot adopt this scheme.
In this case, it is important to keep in mind three elements:
- it is available if you start up a company or you are self-employed;
- you have the opportunity to take advantage of a 10% tax cap;
- the accounting and tax requirements are reduced to a minimum.
For further information, please refer to the Guide to the new company initiative scheme.