What you need to do to start a business in the UK, depends on your structure of business. Most businesses register as a sole trader, private limited company or partnership. Sole traders If you’re a sole trader, you run your own business as an individual and you’re self-employed. You can keep all your business profit after you’ve paid tax on it. You’re personally responsible for any losses your business makes. You must also follow certain rules on running and naming your business. Your responsibilities It’s simpler to start as a sole trader. You’ll need to: keep records of your business sales and expenses, send a Self Assessment tax return every […]