+44 (0) 207 112 8684
Mint Formations

Sole trader registration service

Do you want to register as a sole trader but not sure what you need to do?

We can help you, setup as a sole trader with our sole trader registration packages. We will take care of everything and all you need to do is to complete a simple form and return it back to us. We will take care of the rest. Please note that you need a national insurance (NI) number to operate as a sole trader.

Do you want to reserve a limited company name for future use? Then choose our sole trader plus package.

Sole trader package

£29+VAT
Order now

Sole trader plus package

£49+VAT
Order now

Sole trader package

£29+VAT
Order now

Sole trader plus package

£49+VAT
Order now
Sole trader registration
Free consultation with accountant
Free business start-up guide
Free marketing guide
Free business telephone number
Ltd company name reservation

Frequently asked questions

What is a sole trader?

If you’re a sole trader, you run your own business as an individual and are self-employed.You can keep all your business’s profits after you’ve paid tax on them. You’re personally responsible for any losses your business makes. You must also follow certain rules on running and naming your business.

What are your responsibilities as a sole trader?

You’ll need to:

  • Keep records of your business’s sales and expenses
  • Send a self-assessment tax return every year
  • Pay income tax on your profits and class 2 and class 4 national insurance - use HMRC’s calculator to help you budget for this
  • You’ll need to apply for a National Insurance number if you’re moving to the UK to set up a business.

How to name your sole trader business?

You can trade under your own name, or you can choose another name for your business. You don’t need to register your name. You must include your name and business name (if you have one) on official paperwork, for example invoices and letters.

Sole trader names must not:

  • Include ‘limited’, ‘Ltd’, ‘limited liability partnership’, ‘LLP’, ‘public limited company’ or ‘plc’
  • Be offensive
  • Be the same as an existing trade mark
  • Your name also can’t contain a ‘sensitive’ word or expression, or suggest a connection with government or local authorities, unless you get permission.

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

Please read our blog article comparing the two entities, the advantages and disadvantages of both. www.blogs.mintformations.co.uk/sole-trader-vs-limited-company-comparison/

As a sole trader can I register for VAT?

Yes. You must register for VAT if your turnover is over £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 the VAT. We can help with your VAT registration for just £49+vat.

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

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

How long does the registration take?

From the day of application, it will take approximately 4-6 weeks for you to receive your UTR number from HMRC.

Can I start trading before I receive my UTR?

Yes, that is absolutely fine. But please do ensure that you are registered within three months of trading.

Are there any annual fees?

There is no annual fee for sole trader package. For sole trader plus package there is an annual fee of £49+vat which includes preparation and filing of confirmation statement and annual accounts. This will ensure the company name is reserved for one more year.

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