Forming an online company that is responsible for niche sites ?

[OneWonder]

Hi all,

I'm still fairly new to UKBF, so please forgive me if this has been talked about before:redface:

Okay,
So today i just created a new website , that would be the name of the parent company.
For example "PassionMedia.com" etc...

So PassionMedia.com is the parent company of 3 niche sites that i own, which are:
- online games arcade (established for a week)
- music lyrics website (established since 1st Jan 2013
- Image sharing site (established for 2 weeks)

PassionMedia would be now my company name or portfolio site (for advertisers to see)

Does this make me a "Sole trader" or an LLC ? or LTD ?
(I'm still learning about this stuff)

Even though i graduated from studying "Business Studies", i still need to learn a lot!.

What do I tell HMRC ? What are the best ways to form this "passionmedia" company ?

Mind you, i'd like to note that:
- Only me as the developer is responsible for all sites, no one is working with me.
- This is a bedroom business for now, so i don't have a true office.
- Also, because these are new niche sites, the profit WONT go above £5-7K annually. (For the FIRST YEAR)


Thanks everyone in advance for your responses


FYI, "PassionMedia" is not my company, but i'm just using it as an example

 

[exclusive.virus]

I'm not expert, but since you are planing to get income from these websites you should to be at least a sole trader. You will need ltd or plc when you will want to share your business with anything else or when you will wish to hire somebody.

 

[Tech4Homes]

Sole trader is fine, my main company is the tech 4 one but I run another niche site under the same company, I look at it more of an advertising campaign, it's the same company just a different method of selling my products.. essentially your business is making and monetizing niche sites, so you can be a sole trader and run all incomes/expenditures through one set of a accounts as I'd assume you don't need or want to split the sites into different businesses.

 

[ChrisKG]

I'd say registering as a sole trader (call HMRC up and they'll sort it out for you) would be your best bet if you're aiming to earn £5,000-£7,000 this tax year.

One word of caution though, make sure that you have solid terms and conditions in place for these websites, and ensure that you're not infringing any form of copyright, trademarks or license agreements. Remember that registering as a sole trader makes you personally liable for any debts and claims made against your business/businesses.

Chris