IPSE’s Incubator is for anyone within the early stages of their self-employed career or for those seriously considering self-employment as their next move.
Support for registering your business
Most commonly when freelancing, many choose to work as a sole trader/self-employed or as a limited company.
As a sole trader, it can be quick and easy to set up, there are low start-up costs involved and less admin to that of a limited company. However, as a sole trader you are essentially the company, the disadvantage also being that you are the sole owner, meaning you have unlimited liability for any issues or debt incurred with the business. In other words, you, personally, are fully liable.
As a limited company you are treated as an employee of the business and therefore, separate to that of the company. This is one of the main reasons over 500,00 limited companies are incorporated each year (according to Companies House).
Other advantages to operating as a limited company are: greater tax benefits, having a protected name, creating a more professional image, securing funding, offsetting pension contributions against your company’s corporation tax bill, and more.
Setting up a limited company is exciting, but it can also be nerve-wracking. So, while you’re focusing on getting your new business off the ground, if you're a Kickstart member, IPSE will lend a helping hand in registering your business.
On your behalf, IPSE will complete your online company registration with Companies House and provide you with the full set of digital company documents.
How does it work?
If you are a Kickstart member and you decide that you would like to register your company, you will simply need to complete an online form to get the process started. The form includes requests for information such as:
Names of one director and one shareholder (the same person can do both)
A registered office address
At least one share issued
Your SIC code
Companies House charges a £12.00 registration fee for the formation of a new company, but as a Kickstart member IPSE will pay this fee on your behalf so there are no additional costs to your membership.
Among many reasons for registering your company, one of the main ones is to reserve and secure your desired company name and stop anyone else from using it.
Companies House will not allow anyone else to set up a company with a name that is ‘the same as’ or ‘too similar’ to an existing company name, so you will need to check your name first before we proceed with the registration.
Important information to note:
IPSE will be setting members up with ‘ordinary shares’, if you instead want more than one class of share, unfortunately you will need to consult with your accountant.
You must be a UK resident and tax payer to qualify for this benefit.
Already a Kickstart member? Log in to access the form >
Join a community that supports you on your self-employed journey
When you're just starting out, it can be difficult to know who to turn to for advice and support. By becoming an IPSE Kickstart member, you're joining a supportive community of people who have chosen to be their own boss, just like you. Plus, you're gaining access to all the benefits, guidance, and tools you need to successfully get your business idea off the ground.Explore IPSE Kickstart membership
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