Hypothetically speaking, what does one need to do to set up a new company legally?

Question

I am looking for general advice on the basic rules of setting up a company. Does it need to be registered with the government? Does it need a liscense? How does one tell the tax man? Any sensible and helpful advice would be greatly appreciated, thanks.

Answer 1

As far as I know, yes, you will need to register your company.

If you think your company is going to have sufficient turnover to be VAT liable, then you would need to inform the HMRC department that deals with VAT.

Answer 2

Yes, you need to register your company with the Register of Companies. You can do it youself, but it is better to ask an accountant to do this for you for a small fee.Once it is registered, you can commence trading.  For tax purpose, you can also ask the accountant to do that also.