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How do I register a company in the UK?

by Vijay Shah Business Manager

Before start a company in UK, you must choose a structure for your business. Most common business structures in UK are -

  • Sole Trader
  • Limited Companies
  • Partnerships

 

Sole Trader Registration in UK

If you are a Sole Trader, you need to register as "Self-Employed". This means that you are working for yourself, not for someone else. The easiest way to start a business in the UK is to become a "Sole trader". To become a Sole Trader, you must have

  • a National Insurance (NI) number
  • Register for Self assessment with HMRC.
  • Trade name under your own name or choose a business name.

 

Note - You will need to register for self-assessment tax, which means you or your accountant calculate your own tax.

Limited Company Formation in UK

You can set up a private limited company to run your business in the UK. You must appoint people to run the company that is called “Directors” and register it with Companies House. You can register your company as Private Company Limited by Shares or Private Company Limited by Guarantee.

As a director of the company, you are also an employee. This means that personal income and business income are separate when it comes to paying tax.

To set up a limited company you must:

  • have a name and address for the company
  • register with Companies House
  • have at least 1 director
  • have at least 1 shareholder
  • have articles of association (agreed rules about running the company)
  • set up your company for Corporation Tax

Setup a Business Partnership in UK

In a partnership, you and your partner or partners personally share responsibility for your business.

With a business partnership you need to:


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About Vijay Shah Freshman   Business Manager

2 connections, 0 recommendations, 21 honor points.
Joined APSense since, December 3rd, 2019, From Harrow, United Kingdom.

Created on Jan 15th 2020 06:44. Viewed 279 times.

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