When starting out in business there are different “vehicles” to choose from. The most common businesses tend to be either: a sole trader i.e. working for yourself under your personal name; a partnership i.e. two or more people working together with a view to making profit; or a limited company.

Setting up as a sole trader or partnership is straightforward and you can simply start trading without physically needing to do anything in terms of registering your business. We can provide you with the advice you require in connection with your business start up as well as your liabilities. You should also seek tax advice from an accountant as once you start trading and making money you may be liable to pay income tax or VAT.  

Aside from sole traders and partnerships you can form a limited company. To give you an idea of what a limited company is, how it is formed and what the advantages and disadvantages of a limited company are please see our frequently asked questions section below.