UK freelance
UK freelance
Out of context: Reply #6
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- trevedda0
You can register as a LTD company but this adds a level of complexity to your admin. You have to do company returns etc.
You can just set up as a "sole trader" which means you don't need to anything or even tell anyone. You need to file your own tax return each year to the inland revenue.
It all depends what you want to achieve and how you may want to evolve. A ltd company gives you a little but more credibility (perhaps). It is a legal entity so possibly more trust worthy.
If you turnover in excess of £56K (not sure exactly the amount) you will need to register for VAT - ie charge VAT and claim back VAT from your purchases.
You cna trade as a sole trader and then become a ltd company later as you develop.