Register a company, or not?

[alexhill7]

Hi all,

We have imported some stock from China, which is leaving very shortly.
The intention is to sell on ebay via paypal, and any profits made re-invest back into more stock and re-sell e.t.c.

Question is, as long as we do a self assessment and TAX return and all above board regarding paying Tax. Is there any need to register a company to start with?

The long term goal if it does really take off is to register under a company name, for tax benefits, but for now, can't see the need to ?

Any comments, i would appreciate

Thanks
Alex

 

[Scalloway]

Starting off as a sole trader is ok. Many people do it to test the water before forming a limited company. If things don't work out you can stop without much hassle.

 

[MyAccountantOnline]

..
Question is, as long as we do a self assessment and TAX return and all above board regarding paying Tax. Is there any need to register a company to start with?

Hi Alex

No you dont have to register a company to trade, you can be sole trader, generally people will look at forming a company to save tax (NIC) and give them limited liability.

It's certainly something you should consider. It's just the sort of thing you should ask an accountant advice for when starting up.

 

[Paul_Rosser]

There is a post here on the main differences between being a Sole Trader and going Limited which may help you decide - http://www.ukbusinessforums.co.uk/forums/showthread.php?t=281430