You can run your business as a private limited company. This means the company:
a. is legally separate from the people who run it
b. has separate finances from your personal ones
c. can keep any profits it makes after paying tax
What you’ll need to do
d. To set up a private limited company you need to register with Companies House. This is known as ‘incorporation’.
a. a suitable company name
b. an address for the company
c. at least one director
d. details of the company’s shares – you need at least one shareholder
e. to check what your SIC code is – this identifies what your company does
You’ll also need:
a. shareholders to agree to create the company and the written rules (known as ‘memorandum and articles of association’)
d. details of people with significant control over your company, for example anyone with more than 25% shares or voting rights
e. Once you have these details, you can register your company.
If you’re based in the UK, you can now register a limited company on this website. It costs £12.
You can find more detailed information about registering a company here.