Sole Trader Start Up Pack
Want to set up as a Sole Trader but not sure what you need to do?
Then let us do it for you via our 'simple' Sole Trader Start Up service:
The service includes everything you need to start up as a Sole Trader.
- complete a form
- send it back to us
- and we take care of everything else.
PLUS: You'll receive 4 really useful business guides – ensuring that you get your business off to a great start AND a 'Fast Track' Barclays Business Account. Want to reserve your limited company name to trade with in the future? You want our Sole Trader Plus pack!
NB. You need an NI number to apply as a sole trader.
Sole Trader FAQs
What do I receive with the HMRC Registration?
We'll register you as self-employed with HMRC. They will send you your Unique Tax Reference (UTR).
How long does the registration take?
You will receive your UTR from HMRC in approximately 6 weeks.
Can I trade before I receive my UTR?
Yes, absolutely! You just need to make sure you are registered within 3 months of trading.
How do I apply for my Barclays Business Bank Account?
A link will be provided in your purchase confirmation email, just follow it to access your bank account application (it’s a simple one page form to fill, then Barclays will contact you!). If you can’t find the email please contact us.
Will I get the guides through the post?
No, all guides are provided electronically as PDFs.
Where can I find my guides?
A link will be provided in your purchase confirmation email, just follow it to access all your guides. If you can’t find the email please contact us.
Are there any additional fees to pay?
Sole Trader: No, it's a one off payment.
Sole Trader Plus: Yes, but only for the company name reservation service. There is an annual maintenance fee of £49.99 which includes preparation & filing of all statutory requirements (annual return & annual accounts). This ensures the company remains reserved for another year. There is a transfer fee of £24.99 should you wish to trade using your reserved company.
What happens when I want to trade using my reserved limited company name?
You will need to pay a transfer fee of £24.99. We will ask you to specify who you want the directors and shareholders to be. Ownership of the company will then be transferred to yourself.
Should I be a sole trader or limited company?
Find out using our Sole Trader v Limited Company web app.
Need help registering for VAT?
We can do that too! We offer VAT Registration Assistance for £49.99.