Firstly you need to decide whether it is appropriate for you to set up as a Sole Trader, Partnership, or Limited Comapany. As a Sole Trader or Partnership you are self employed and your statutory obligation or very similar, ie you need to submit a Self Assessment Tax Return to HM Revenue and Customs (HMRC) by 31st January after the end of your accountaning year.

To help you decide which structure is right for you it is advisable to take advice from an Accountant, however to get iniitial information click on the link to read our blog –    Sole Trader or Limited Company ?

If you choose to register as a Limited Company then you are required to prepare accounts that must be filed with Companies House in a statutory format. You also have a requirement to submit an Annual Return and maintain other statutory records in according with the Comapnies Act 2006. We can help you by preparing your statutory accounts and filing them with Companies House for you.You also will be required to sumit statutory accounts and a company tax return to HMRC and in many cases operate payroll and submit the statutory returns to HMRC for that too.

Another option is to create a Limited Liability Partnership which it taxed similarly and has the same flexiblity to a traditional Partnership while have the protection of  a Limited Liability Structure. Statutory submissions must be made to HMRC and Companies House.