register sole trader or self employed?

[CIulian]

I am looking to start working for myself, renting out a small office space and sell printed garments (hats, cloathing, etc). the earnings won't be much, less than £15,000 a year. will I be able to trade as self employed or do i have to register as limited. the other thing i wanted to know is whether you need a particular licence to trade, I know certain trades require legal authorisation before they start practice, I was wondering how much paperwork there is in my type of business.

thank you for helping.

sorry, i only realised after posting, i meant "sole trader or limited"
silly
thanks.

[tony84]

You can be a sole trader if you wish. Just remember to register with HMRC.

[adamchy]

I would say no, just start. Register with HMRC.

Keep good records of income and expenditure in a spreadsheet. You can submit an online return to HMRC, if you're comfortable with accounting terms.

We offer virtual addresses if you don't want to use your home address for business purposes. See below ..

[GraemeL]

If you go Limited, you will definitely incur accountancy costs. For a relatively risk free business like yours, with t/o at your predicted level, Its almost certainly not worth it.

G

[purpleoakdesign]

All you have to do is tell HMRC you are self employed. They ask a few questions and get you sorted. It is up to you to find out if you need to pay National Insurance Contributions. You can just ask HMRC when you tell them you are self employed.

I wouldn't register for VAT either if you are just going to be earning £15,000. Hope that helps.