Sole trader or limited company?
There isn’t one right answer. We’ll look at what you expect to earn, how you want to pay yourself and how much paperwork you’re happy with, then show you the figures side by side.
Getting registered
Sole traders need to register with HMRC for Self Assessment by 5 October after the end of the first tax year they trade. Limited companies are registered with Companies House and then for corporation tax. We handle the registrations, plus PAYE if you’re taking on staff, and VAT once your sales pass £90,000 in 12 months or earlier if it suits you.
Set up properly from day one
We set up Xero for you, connect your bank and show you how to snap receipts, so your records look after themselves. Then we agree what you’ll pay and when, so there are no surprise tax bills at the end of your first year.
What’s included
- A free first meeting, at our Linwood office, at your business or by video
- Sole trader or limited company comparison
- Company formation and HMRC registrations
- Xero set up and training
- A first-year plan for tax and paying yourself
Common questions
When do I need to tell HMRC I’ve started?
If you’re a sole trader, register for Self Assessment by 5 October after the end of the tax year you started. A limited company must register for corporation tax within three months of starting to trade.
Do I need to register for VAT?
Only once your sales go over £90,000 in any 12 months, though registering early can sometimes help. We’ll advise you.
Is the first meeting really free?
Yes. Your first meeting with us is free, with no obligation. Book it through our quote form or give us a call.