Call our team +44 (0) 207 566 3939

Registering as a sole trader with HMRC means that you are declaring yourself as self-employed and that you will be running your own business to generate an income for yourself. This will mean that you will assume all the legal and financial liabilities of your business yourself. Should anything go wrong with your business, you could be putting your own personal money and belongings at risk.

Forming a company will set up your business as a separate legal entity in its own right. This means that you can separate yourself from your business and protect your assets through limited liability. Should your business take off and you wish to expand further down the line, you will be in a position to accept other people as joint owners through allocated company shares.

Related Category Posts

A Summary of Company Formation Documents

A Summary of Company Formation Documents

A Summary of Company Formation Documents Company formation documents are important pieces of documentation that you will be referring to once you’ve successfully launched your business — incorporated your name, formed a team, and boast a prestigious business address,...

read more
What Are Limited Liability Partnerships?

What Are Limited Liability Partnerships?

Before considering a business address, you have to know what kind of company registration is most suitable for your business’s needs.  If you’re looking to set up a limited liability partnership, this article will outline all you need to know to better understand...

read more
All You Need to Know About Limited Company Shares

All You Need to Know About Limited Company Shares

If you’re set to launch a company limited by shares, it’s important for you to understand all there is to know about these limited company shares and what they mean for your business. Before you begin working via your prestigious registered office address, take note...

read more