Self Employed Registration & Accounting Support

Registering self employed with GoForma

When you choose GoForma for your Sole Trader Registration, you can expect a comprehensive service designed to cover all your needs.
Here’s what’s included:

set up limited company registration notification

Full sole trader registration help and advice

expert free business accountant consultation

Self-Assessment Registration and filing support

Business banking, insurance and software discounts

Registered office address and mail handling service

Free Consultation on accounting, tax and take home pay

Ongoing support and filing reminders after you register

Why register as a sole trader

Setting up as a sole trader offers many advantages, making it an attractive option for many entrepreneurs. Here are some key reasons to consider sole trader registration:

Simplicity and Flexibility: The sole trader structure is easy to set up and manage, allowing you to focus on what you do best—running your business.
Full Control: As a sole trader, you have complete decision-making power, enabling you to drive your business in the direction you envision.
Keep Your Profits: You retain all profits after tax, meaning you get to enjoy the rewards of your hard work without sharing with partners or shareholders.
Tax Advantages: Enjoy potential tax benefits and allowances, such as claiming business expenses, which can significantly reduce your taxable income.
Personal Touch: Building a personal brand is easier as a sole trader, allowing you to connect more authentically with your clients and customers.‍
Minimal Compliance: Compared to other business structures, the regulatory requirements are less demanding, saving you time and resources.

Sole Trader (Self Employed) vs Limited Company

When you decide to become self-employed, one of the first decisions you’ll need to make is to decide on a business structure: operating as a sole trader, or through your own limited company.

There are a few traits that identify sole traders: you’re taxed as an individual (and don’t pay corporation tax), you have unlimited liability (your business isn’t considered a separate legal entity) and you have sole ownership over your business.

There are several reasons why the sole trader structure is the most popular option among businesses in the UK. It’s easy to set up—all you need to do is to register as self-employed with HMRC, choose a business name, and you’ll be all set to begin trading.

And if you change your mind sometime down the road—whether you decide to stop trading or to change to a limited company structure—the process of termination or transition remains fairly simple and straightforward. Unlike with limited companies, there’s no need to take additional steps such as applying to strike off your company.

You’ll also enjoy full control over your business, as there aren’t shareholders you’ll need to answer to. Sole traders also have fewer compliance requirements compared to limited company directors, which means that you’ll benefit from less paperwork, greater convenience and lower accounting fees.

Switching from Self Employed to Limited Company

You started out as a sole trader—but as your business scales, there comes a point in time where it becomes more efficient to trade as a limited company.

There are a few reasons why sole traders decide to make the transition.

Their profits may have grown to the point where it’s more tax efficient to trade as a limited company. They may decide it’s time to bring in shareholders or directors, or feel that their business could benefit from the increased credibility that a limited company structure brings.

Here’s what the process of transition involves: firstly, you need to decide if you’ll be the sole director. After which, you’ll need to notify HMRC of the change, select a business name, and register your limited company with Companies House.

Once the registration is complete, there are a few more items to cross off your checklist. You need to inform your stakeholders, set up a business bank account, set up your payroll, update your company details on your business documents and get your accounts sorted out.

Self employed accounting packages

Self employed registration included

30 day refund policy

Up to £250 in referral rewards

Self
Assessment

Start

Operate

Price

£199

£39

£69

Discounted price

50% discount for first 3 months with a monthly package

£165

/once

£19.50

/month

£34.50

/month

Sole trader HMRC registration

Proactive filing reminders

Business banking offers

Business insurance offers

Dedicated 1-on-1 accountant

Self assessment tax returns

Add on: £165 per self assessment

Unlimited bookable accounting support

FreeAgent accounting software

Mobile accounting app

Unlimited invoices

Automatically import bank transactions

VAT registration

Quarterly VAT filing

Monthly payroll

Add on: £5/mo per additional employee

Prices quoted exclude VAT

How to Get Started with Our Self Employed Business Registration Service

Get started instantly online

Book a free sole trader accounting consultation

We’ll arrange a quick consultation to understand your business goals and answer any questions you may have. This helps us provide tailored advice for your registration.

Sign up online

Select the Sole Trader Registration package that best suits your needs.

Submit your company and personal details

Share your business details and any necessary documentation in our dashboard. We submit your application to HMRC for you. We handle all communication, so you don’t have to worry about any follow-up.

Company registration & ongoing support

Once registered, you’ll receive confirmation and can begin your journey as a sole trader! Depending on your package you'll get ongoing support with accounting software, self assessment tax returns and more.

Accountant from a free accounting consultation

Self employed and sole trader accounting services

Since 2019, GoForma has been providing a range of accounting services for sole traders and self employed individuals. Based on our experience, we wanted to build a proactive accounting service where you can easily access an accountant and get clear insights on your upcoming deadlines, tax and take home pay.

You can book time with an accountant easily if you're considering registering as self employed (or can't decide between working as a sole trader vs limited company) or if you're considering switching accountants.

If you're also currently using FreeAgent accounting software then this makes it really easy for us to manage your account. As platinum FreeAgent accountants we have extensive experience of setting clients up on the platform.