Startups

You need to choose a business structure (like sole trader, partnership, or limited company), register with HMRC, and set up a business bank account

Yes.

• • Sole traders must register for Self Assessment with HMRC
  • Limited companies must register with Companies House and Corporation Tax

Only if your sales go over the VAT threshold (currently £90,000 a year). You can also register voluntarily if it suits your business

Keep all income, expenses, invoices, and receipts. Good record keeping helps you complete your tax return correctly and track your business performance