Making Things Official with the HMRC

Discussion in 'Business & Tax Advice' started by SinFa, May 23, 2016.

  1. SinFa

    SinFa Registered Member

    Feb 12, 2016
    Likes Received:
    Hi there,

    I live in the UK but came from some other country.

    I'm currently trying to start a few online businesses (mostly targeting US markets), one of which I'm documenting in the My Journey forums. I want to ask:

    - How urgent is it for me to set up a business and report my accounts to the HMRC?
    - What's the best method to go about this, because I noticed there's 3-4 ways I could register with them, ie. register as a small business, sole trader, register with VAT, etc
    - I live in a few other places including Hong Kong, should I register my business there for the potential tax savings in the future?

    I did some light-googling and search here but couldn't find the answers. It might be because they're too technical and I should find an accountant instead. If that's the case, please share that thought with me too.

    Thanks :)