How To Register A Business Name Uk Sole Trader
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Registering as an overseas company in the uk.
How to register a business name uk sole trader. There are many benefits of being your own boss including greater control over your work life balance. There are different rules for business partnerships and limited companies see naming your partnership and naming your limited company. The register is operated by national business register a name approved by the secretary of state for trade and industry. Sole trader business are most commonly used by very small business with a low turnover low risk and a single owner. A comprehensive check of current business names.
You are registering as self employed and each year you must complete a self assessment tax return. Once you have determined that your name is available to use and complies with all the rules the next step is to register as a sole trader. Registering as a sole trader is the most common way to start a business in the uk. Instead you simply need to register as self employed with hmrc. You can trade under your own name or you can choose another name for your business.
Keep records of your business s sales and expenses. Pay income tax on your profits and class 2 and class 4 national insurance use hmrc s calculator to help you budget for this. This guide covers the registration requirements of sole traders. The benefits of membership of the national business register. You must notify hrmc.
To register as a partner fill out form sa401. Setting out in business on your own might feel daunting but take comfort from the fact that you re in good company there are now almost five million self employed workers in the uk accounting for 15 of the total workforce. Members of the national business register obtain seven vital benefits. Apply to register a trade mark. If you intend to trade as a sole trader you must notify hmrc.
Send a self assessment tax return every year. How do you register as a sole trader. The stress free guide to registering as a sole trader. As a sole trader you must include your name and business name if you have one on official paperwork for example invoices and letters. You don t need to register your name.