Generally there is no right and wrong answer – all different structures have their own merits and I suggest you take advice from a few people – remember it’s what suits you. A sole trader is the quickest and easiest to set up. It’s less regulated to run. All you need is a National Insurance Number and to register for Self-Assessment with HMRC. The more tech savy of you can go to gov.uk and register your business otherwise an accountant can help you. The quickness and ease of being a sole trader means it’s ideally suited to small lifestyle business like an ebay shop or home based business. However there is no size limit –remember Mike Ashley still ran Sports Direct as Sole Trader when he was running 0ver 100 stores If there are more people in the business –A partnership would be sensible. Again very easy to set up and although it’s probably an expense you’d rather not spend at the outset – a partnership agreement outlining the details of how you work together and possibly what happens if you separate is essential. Whilst being a sole trader or partnership is ok, some say they lack the kudos or credibility of a limited liability company or limited liability partnership. These choices are more regulated and therefore more expensive to operate. Again you can use an accountant or formation agent for specialist circumstances, but a simple/ basic company can be set up online for £ 15 you just need to choose: o the company’s name and registered address ( We can provide one of those) o names and addresses of directors (and company secretary if you have one) o details of shareholders and share capital I hope you have enjoyed this Blog. Don’t forget to sign up below if you’d like to receive more FREE Business information Would you like to receive our FREE infoblog ? [ Name ] [ Email ]
Hello and welcome to our Video/Blog Page. Here we aim to upload really useful and informative topics to help you with your business choices. Please subscribe and share to your business colleagues.If you have news or information you would like to share about your business, please let us know - happy watching / reading.
Copyright © 2018 space4work | Space4Work Limited, Registered in England and Wales registered number 3631342, Denby House Business Centre, Taylor Lane, Loscoe, Derbyshire, DE75 7AB, 0115 905 4606.
We operate a direct debit guarentee scheme
Made with care and dedication by jollyone web design