If you're paying tax you're making money.... simples. Why...

If you're paying tax you're making money.... simples. Why change? Not sure about the underage trading though, that's a bit suss

Pro's and cons for both. More cons in changing imo. Best to seek professional advice for the both of you that suits exactly your situations, because without knowing details I.e income/s, assets, expenditure etc it is only guess work on anyone's behalf.

For me, its better off and easier staying a sole trader, but that is obviously what has been advised to me for my own personal circumstance I.e having multiple revenue streams allows for write-offs/losses to be claimed on all sources of income, whereas with business it becomes trickier.

Find a good accountant is the best bet. Can be complex or quite simple depending on your situation. But I'm no expert, just a pale white man in a box that doesn't like the sun.