Sole trader registration service

What is the difference between a sole trader and a limited company?

There are various differences between operating as a sole trader and running a limited company, and the one that will be best suited to you will depend on how you plan to run your business and how quickly you want to grow. Our blog post outlines the differences between a sole trader and limited company , along with the advantages and disadvantages of each.

As a sole trader, can I register for VAT?

Yes. After you register as a sole trader, you must register for VAT if your turnover exceeds £85,000 per year. You can register voluntarily if it suits your business; for example, if you sell to other VAT-registered businesses and want to reclaim VAT. We can help you register for VAT online for just £49 +VAT.

What do I receive from HMRC when I register as a sole trader?

When you buy our sole trader registration package, we will register you as self-employed with HMRC. The HMRC will then send you your Unique Tax Reference (UTR).

How long does sole trader registration take?

Filling in our simple online application form takes just minutes, but it can take approximately four to six weeks for you to receive your UTR from HMRC.

Can I start trading before I receive my UTR?

Yes, you can, but you must complete your sole trader registration within three months of the date you started trading. This effectively allows you to start trading as soon as you submit your application, allowing you to hit the ground running while knowing that your company formation admin is all taken care of by us.

Are there any annual fees?

There is no annual fee for our Sole Trader Registration package. For our Sole Trader Plus package, there is an annual fee of £49 +VAT, which includes the preparation and filing of your confirmation statement and annual accounts. This will ensure your company name continues to be reserved.