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You can trade as a sole trader, a partnership or a limited company. Register for Self Assessment if you are a sole trader or partner, or for Corporation Tax if you set up a limited company.

Sole trader or limited company

Compare liability, tax and paperwork before you choose a structure.

Your registration depends on your business structure.

Self Assessment (sole traders and partners): Tell HMRC by 5 October after the end of your first tax year
Corporation Tax (limited companies): Add Corporation Tax services when the company starts to do business, and notify HMRC within 3 months of that date
VAT: Register when taxable turnover goes over £90,000 in 12 months, within 30 days of the end of that month
PAYE (employers): Register before the first payday
CIS (construction): Register before taking on your first subcontractor

Set up your business and register for tax

Sole trader or limited company