Nature of structure:

• Easy to establish
• No legal separation
• Limitations: Limited life, access to finance, unlimited liability
• Governing law – normal business regulation, ie. tax, health & safety, local council, RMA, etc.
• Control – in the hands of the individual

Other considerations:

• Sale of undertaking
• Cessation
• Tax assessments- IR3 Return, GST, PAYE if any
• Losses – in taxable situations c/f
• Contributions
• Distributions