Start with a structure that suits your plans.
Understand the tax and accounting implications before you register, then put reliable records and reporting arrangements in place.
What we cover
Business structure
Sole trader, partnership or limited company, considering your plans, income, responsibilities and tax position.
Formation and registrations
Company formation and relevant HMRC registrations, including VAT, PAYE and CIS where required.
Accounting records
A practical bookkeeping process and software arrangements from the start.
Business banking support
Help with accounting information and application requirements, with introductions where appropriate. Account approval remains the provider’s decision.
Your responsibilities
The records to retain, returns to submit and deadlines to plan for.
Reliable records from the beginning make it easier to understand performance and avoid unnecessary correction work later.
Frequently asked questions
Should I operate as a sole trader or limited company?
It depends on expected profits, how you need to draw money, commercial risks and longer-term plans. We consider the accounting and tax implications and identify matters that may also need legal advice.
What is involved in registering a company?
You need the company’s details, officers, ownership information and the relevant identity-verification requirements completed. Directors must provide their Companies House personal codes as required for incorporation; people with significant control have separate requirements and deadlines. We explain the steps applicable to your application. HMRC registrations are dealt with separately where needed.
Do sole traders need a separate business bank account?
A separate account is not generally a legal requirement simply because you are a sole trader, but your bank’s terms may restrict business use of a personal account. Keeping business transactions separate makes bookkeeping clearer.