💼 BUSINESS BASICS & GETTING STARTED
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You’ve decided to become a freelancer - ****congrats! You‘re going to love it.
Do you have to register a business?
If you’re considering freelancing and at the very early stages, no, you don’t need to do anything. In fact, you can even apply for jobs to see if you get a bit before you register. However, once you start making money from your freelancing, you’ll need to pay taxes and register your business.
Most freelancers choose between working as a sole trader or setting up a limited company. What’s the difference? Here’s a step-by-step breakdown of the pros and cons of both.
Note: the following information is related to registering a company in the United Kingdom. The examples below are not intended as business advice but rather as a guideline. Please research the rules and options in the country you choose to register your company and consult a professional for specific information. Freelancer Club disclaims all liability to any person in respect of anything, and of the consequences of anything, done or omitted to be done by any such person in reliance, whether wholly or partially, upon any information presented in this document.
SOLE TRADER OR LIMITED COMPANY? 🇬🇧
A limited company is a popular business structure whereby the finances of the business are separate from the owner or owner‘s personal finances. To set up a limited company just head to Companies House where you can form a company for as little as £12.
We have created a step-by-step guide, with tips and comments to help you go through the process of registering a limited company. Click here to access the Guide.
If the thought of setting up a company is too daunting, check out YourCompanyFormations.co.uk or CompaniesMadeSimple.com and pay a little extra (around £20) to be guided through the process by the pros.
Website Ref: https://www.yourcompanyformations.co.uk | https://www.companiesmadesimple.com