You can run your business as a private limited company. This means the company:
- is legally separate from the people who run it
- has separate finances from your personal ones
- can keep any profits it makes after paying tax
What you’ll need to do
To set up a private limited company you need to register with Companies House. This is known as ‘incorporation’.
- a suitable company name
- an address for the company
- at least one director
- details of the company’s shares - you need at least one shareholder
- to check what your SIC code is - this identifies what your company does
You’ll also need:
- shareholders to agree to create the company and the written rules (known as ‘memorandum and articles of association’)
- details of people with significant control over your company, for example anyone with more than 25% shares or voting rights
Once you have these details, you can register your company.