How to register your own company in uk - Can read more about setting up a business partnership or a limited company on the hmrc website, but for all intents and purposes if you expect to earn less than £81,000 a year (the point at which you have to register for value added tax, or vat), it will be best to register as a sole trader. The required information together now will save you from having to go back and get it at a later time when you come to complete your registration – plus it’s also useful to have this information on file in case you need it at a later date. ? i’ve never run a business, so i had bundles of questions, things such as registering for tax, forming a company, how to claim for business expenses – trust me if you get a good accountant (which i have) you will get your questions answered there and then. , if you’re going to be running your freelance consulting business with someone else, or are going to earn over a certain amount per year, you may want to think about becoming a partner in a business partnership or setting up your own limited company.