Sole trading - part-time

(1) Yes
(2) There is no requirement to "register" a business name. As a sole trader you can use a trading name, or your own name, just let the IR know when you register with them. Forming a limited company with companies house is quite a different thing altogether and sounds unsuitable in these circumstances.
(3) If you register for VAT you can claim back your purchase costs, but must charge VAT on your sales. If all your customers are VAT registered it might be worthwhile, but quite frankly it probably wont be worth the bother of the added complexity for the sake of a few £'s in VAT if you are a virtual PA.

I hope this helps,

Regards,

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James Smith
Chartered Accountant
www.jamesesmith.co.uk
01235 536 773

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Your indispensable guide to Small Business Bookkeeping, Self-Assessment & VAT

Picking up on James I agree with his advice.

You mentioned you are new to the UK.

Depending on your circumstances and intentions you may have a small window of opportunity to take advantage of non resident / non ordinary residence / non domicile to reduce your expose to tax further.

You should discuss this with a tax adviser who can identify these opportunities.

The best opportunities for tax planning are always in advance. If you plan to make any changes to your circumstances, briefly discuss them with a tax adviser as early as possible as small tweaks to your anticipated changes can bring greater rewards in tax planning.

From a marketing perspective, whatever trade name you decide upon, ensure it is not already obviously used elsewhere and that you also register a relevant domain name and save yourself headaches later on.

I would also advise you send yourself two letters containing the details of your new business name. Do not open these letters when they arrive but keep them safe for the future in case a dispute ever arises. The sealed and dated envelopes will show the earliest date you came up with the business name and intended to use it. This is one factor the courts will look for in deciding a rightful owner.

Best of luck,
Matthew

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Matthew Manderson CTA ATT AMIT

Chartered Tax Adviser



http://www.aoline.co.uk/

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Thank you James and Matthew, for your replies.

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