Is it a must?
can be a sole trader but I definitely recommend a LTD company
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If you are planning to do professionally business with good investment then it’s better to register Ltd. Because it’s not a big cost to launch LTD because LTD launching government fee is only 12 pounds.
You can also go with individual then there’s no need to register Ltd.
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I think if individual account is opened once in personal name you can’t change it to a company name later! Can you?
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Hi. I was about to ask the same question…
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You do not need an Ltd. You can be a sole trader.
The best option for you will depend on your personal circumstances. As a Sole Trader you can do your own self assessment tax return. If you are an Ltd you’ll need to pay an accountant whether you make any money or not.
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Yes you can change it to an Ltd later down the line if you want to.
You’ll only want an individual account if you plan on selling less than 25 units a month. Anything more and you’ll want the professional account.
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