Setting up as a self-employed sole trader is the simplest and quickest way to start a business. There isn't much paperwork to do. There are no registration fees to pay, but you must register with HM Revenue & Customs for tax and National Insurance purposes.
This guide explains the consequences of, and the legal requirements for, setting up as a sole trader. You will find out how to meet your tax responsibilities by filling in your Self Assessment tax return each year and paying your tax and National Insurance.