Company Name or not (Self Employed)

System
System Posts: 100,537 🤖 Admin 🤖
edited June 9 in General accounting discussion
I am going to be a MIP. My question is if I am self employed and do not give myself a company name do I just submit PAYE and NI information? Or do I have to register under a company name. I was going to give myself a company name but not sure if this is worth it as will be taking home less then £5k a year for now. This would mean I would have to file year end accounts etc. Any advise would be good.

Comments

  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Company Name or not (Self Employed)

    If you are self employed then you class yourself as a sole trader - you can give yourself a company name but for all intents and purposes you would be Joe Bloggs T/A Company 1. You then file a self assessment annually to pay your tax.

    Registering a company name would mean you are becoming a limited company probably not necessary given the level of turnover stated.

    Hope this helps..




  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Company Name or not (Self Employed)

    Thanks very much for your help. This all makes sense now
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Company Name or not (Self Employed)

    Remember that you cannot give the impression to others that you are a limited company when you are not.

    e.g. you could not be Char8888 trading as Char8888 Limited.

    I guess I'm probably pointing out the obvious here!

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