Registering a new business?

Buchanan0204 · 16 Dec 2012 at 20:45

If you register self employed with HMRC and declare self employment by signing up for self assessment online, does this automatically register the business also or is this a separate process that needs to be done elsewhere?

Would companies house be the best place to go?

When and if you need to register with CH, does this then TM your brand name/company name or is this also another process?

I realise not all companies are Ltd or need to be, I know there's a fee for registering a Ltd company, is this the same for a sole trader?

Sorry there's no humour in this thread, I realise it's GD and I'm failing to deliver haha.

mr tommo · 16 Dec 2012 at 21:03

No you only need to register with companies house if you set up a limited company.
You don't need to do anything more than you have done already. Just keep all bills, mileage, receipts, invoices and bank statements and you are sorted. Depending on how complicated your business is you may struggle to do the self assessment yourself.

You may find having an accountant could save you money in the long run with them advising you on what you are eligible to declare for business use.

PistolPete · 16 Dec 2012 at 22:27

mr tommo said:
You may find having an accountant could save you money in the long run with them advising you on what you are eligible to declare for business use.

We were told that if your accountant can't save you more money than their fees then you have a rubbish accountant! Not sure how true it is, ask me again in twelve months!

PhillyDee · 17 Dec 2012 at 03:53

That depends what you give them to work with! Mine have done well this year! Its quite amazing what can be written off!

DanielMMS · 17 Dec 2012 at 10:09

Buchanan0204 said:
If you register self employed with HMRC and declare self employment by signing up for self assessment online, does this automatically register the business also or is this a separate process that needs to be done elsewhere?

Would companies house be the best place to go?

When and if you need to register with CH, does this then TM your brand name/company name or is this also another process?

I realise not all companies are Ltd or need to be, I know there's a fee for registering a Ltd company, is this the same for a sole trader?

Sorry there's no humour in this thread, I realise it's GD and I'm failing to deliver haha.

Firstly, be very careful with your use of the word "company". The vast majority of “companies” are limited and all are incorporated. I presume you are a sole trader rather than a company. Business would be the term to stick with. This may seem like semantics but it is very important since passing yourself off as a company when you are not could put you into a difficult position.

Tax-wise, what you mention is sufficient, although it would be worth delaying until you actually start trading.

Registering a business name is possible but fairly pointless. You could go down the route of trademarking but it is very expensive so perhaps not worth the outlay at an early stage of the life of a business.

dav3evans · 17 Dec 2012 at 12:12

I did this last year, and unless you know you are going to be earning ~£50k straight off I wouldn't bother going VAT registered and all that jazz to start.

Register as self employed and state that you are trading under *company name here* and you'll pretty much be good to go.

The HMRC will send you a form to fill out to sort your NI contributions (class 2) and then they will send you a letter asking to do your tax return when you need to etc...