The Wholesale Forums

[Ems1]

Hi all,just wondering,if i setup a small business as a sole trader is it a legal requirement to register with companies house??and also is it a legal requirement for soletraders to have insurance,any help gratefully recieved.

[Anthony]

You only register with companies house if you incorporate a company. Since companies house is only for companies, sole traders don't have anything to do with them. If you are starting a business then you must register as self employed with HMRC and make national insurance contributions and pay tax. (Where applicable).

Insurance is dependant on which profession you are undertaking.

[Ems1]

Thanks for that anthony,could you elaborate a bit more on the insurance side of things please?

[Anthony]

Originally Posted by Ems1

Thanks for that anthony,could you elaborate a bit more on the insurance side of things please?

Well it depends on what industry you will be working in and the products/services associated with them.

Personal Liability insurance may or may not be applicable hence why I think you need to seek professional advice from somebody who knows the full details.

[Ems1]

spot on advice my friend,cheers!