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Which structure fits you?

Sole trader or private limited company (Ltd): answer six short questions and see which one may suit you, why, and what to watch. Every point links to GOV.UK.

  • Official sources
  • Read on 8 November 2026
  • Free, no account

Six questions

Tell us about your project

There are no right or wrong answers. Nothing is saved.

  1. 1Are you starting on your own?
  2. 2Could the business owe more than you could pay back yourself?For example stock, a lease on premises, staff or large contracts.
  3. 3Do you plan to bring in investors or apply for business loans?
  4. 4How much yearly paperwork are you ready for?
  5. 5When do you want to start trading?
  6. 6Are you happy for your name to be on a public register?

Answer the 6 questions to see which structure may fit (0/6).

This is general guidance, not legal or tax advice. It comes from official sources, read on 8 November 2026. Rules and fees change: always check the official source before you act. For your own situation, talk to a professional: an accountant.

Sources

  1. Set up a business: sole trader or limited company 路 GOV.UK 路 read on 8 November 2026
  2. Become a sole trader 路 GOV.UK 路 read on 8 November 2026
  3. Set up a private limited company 路 GOV.UK 路 read on 8 November 2026
  4. Set up a private limited company: register your company 路 GOV.UK 路 read on 8 November 2026
  5. Running a limited company: your responsibilities 路 GOV.UK 路 read on 8 November 2026
  6. Companies House fees 路 Companies House 路 read on 8 November 2026
  7. Prepare annual accounts: penalties for late filing 路 GOV.UK 路 read on 8 November 2026
  8. Verifying your identity for Companies House 路 Companies House 路 read on 8 November 2026
  9. Self Assessment tax returns: penalties 路 HMRC 路 read on 8 November 2026
  10. Making Tax Digital for Income Tax for sole traders and landlords: step by step 路 HMRC 路 read on 8 November 2026

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