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The process of registering business name in the UK depends on the type of business structure you choose. There are three main types of business structures: sole trader, partnership, and limited company. Each one has different rules and requirements for registering a business name.
• If you are a sole trader, you can trade under your own name or choose a different business name. You do not need to register your business name with Companies House, but you must register with HMRC as self-employed and file a self-assessment tax return every year. You must also make sure your business name is not the same as or too similar to an existing trade mark or company name.
• If you are a partnership, you can trade under the names of the partners or choose a different business name. You do not need to register your business name with Companies House, but you must register with HMRC as a partnership and file a partnership tax return every year. You must also make sure your business name is not the same as or too similar to an existing company.
Also read: All about the UK Trademark process
How much does it cost?
The cost to register a business name in the UK depends on the type of business structure you choose and the method of registration you use. Here are some of the costs for different options:
• If you register as a sole trader or a partnership, you do not need to register your business name with Companies House, but you need to register with HMRC as self-employed or as a partnership. There is no fee for registering with HMRC, but you will need to file a self-assessment tax return every year.
• If you register as a limited company, you need to register your business name with Companies House and pay a fee. If you register online, it takes 24 hours. If you register by post, it takes 8 to 10 days.
• If you register as a community interest company (CIC), you need to register your business name with Companies House and pay a fee.
