Going Self Employed.

[LongHairedLily]

Hi

 

I'm on JSA and going to sign off on Monday and register as self employed, claiming in work credit for the first year as self employed checked I can do this.

https://www.gov.uk/in-work-credit/overview

 

 

I want to register my company name to protect it from being used by anyone else. Would I have to register as a limited company or would it still be ok to just register as self employed ? It's expensive going down the limited company route and I will do that once the company is making a good profit.

 

Any answers gratefully received.

[tezza1234]

Hiya, If you want to protect the name then yes Ltd company, you could register the name as a LTD compamy and leave it dormant and trade as self employed, And buy the domains for the web also, weather you plan to have a website matters not, again it protects the name being used by someone else on the web.

[Conniff]

Always better to be limited then if anything goes wrong any claim would be against the business and will be limited liability otherwise if a sole proprietor any claims would be against you personally.

[tezza1234]

Always better to be limited then if anything goes wrong any claim would be against the business and will be limited liability otherwise if a sole proprietor any claims would be against you personally.

 

Sorry conniff i have to disagree with this, of course its better to be LTD if it is a substantial amount of money involved but if it is a start up on a small budget then a LTD company is not always required.

Even now if you are a LTD company, you go to your bank for a business loan, i bet 95% of the time they want your house/some other asset/s as security, ltd company or not.

And for the name protection thing, being a Ltd company does not protect this as such, which is why getting the web domains are important.