Do I Need To Register A Company Name If I Am Self Employed

There's a lot to think about when setting upwards a business, whether yous're a sole trader or opening a limited company. You volition need to tell HMRC that you lot're self-employed and operating every bit a sole trader so that you can fill in Self-Assessment tax returns and pay the right corporeality of taxation you lot owe.

But practice you need to register with Companies Business firm? The quick answer is that no, a sole trader business does not need to register with Companies House.

Read our guide to Registering as a Sole Trader to get started.

What is Companies Business firm?

All limited companies must register with Companies House, who volition make the company information publicly available on their website. This means companies must provide the details of who their shareholders and directors are, as well equally file a copy of their almanac financial accounts.

Does that include sole traders?

Sole traders don't need to register with Companies Firm, only those who want to operate every bit a company demand to register. If yous gear up up a company, you'll notwithstanding need to register with HMRC as a company director for Self-Assessment though.

So how do I annals every bit a limited company?

If you change your heed and decide that you'd rather operate as a limited company, then you lot will need to register with Companies House equally soon as possible. You will need to annals inside 3 months of starting your business in gild to exist trading legally.

In order to register your company you volition demand to register either online or by post. Doing it online is quicker and cheaper. It costs £12 and your visitor is usually registered within 24 hours. Watch our video nearly incorporating a express company if y'all're already in business as a sole trader.

If you do information technology by post, y'all'll need to fill out a IN01 form. This method takes longer, usually between 8 and 10 days and volition toll you £forty. This will need to be made out in a check to Companies House.

To speed the process upwardly and become your company registered on the same 24-hour interval, you'll need to get your application in to Companies Firm by 3pm and pay a £100 charge. Yous will also have to mark your envelope as "same day service" in the elevation left mitt corner.

Later registering, you'll get a Document of Incorporation which confirms your company exists legally. Information technology will also show your company number and the appointment of formation, both of which will be important for when you file your tax returns so go along it safety.

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About The Author

I'm an experienced and fully AAT and ACCA qualified accountant, who is enthusiastic about helping business owners succeed. I also love cooking and needlepoint (at different times!). Learn more than well-nigh Beth.