This guide covers the registration requirements of sole traders.
You must notify HRMC
- If you intend to trade as a sole trader you must notify HMRC
- You are registering as self employed and each year you must complete a self assessment tax return
- You must notify HMRC within 3 months or face a fine
Protecting your brand
- If you are planning to “trade as” it is highly advisable that you register your company (as dormant) with Companies House
- This ensures your company name will be available to you if you decide to incorporate in the future
- Once a company name is taken at Companies House, it may not be registered by anybody else. This includes names that are deemed “too similar”