One of the first big decisions for a new UK business 👇 There’s no one-size-fits-all answer — but here’s a simple breakdown to help you choose 👇 🔹 Sole Trader ✔ Quick and low-cost to set up✔ You and the business are the same (simple, but higher personal risk)✔ Pay Income Tax + National Insurance on all profits✔ Simple bookkeeping and Self Assessment⚠️ From April 2026, many sole traders must follow Making Tax Digital (MTD): Digital records Quarterly updates to HMRC MTD-compa