Financing, tax rates, and accounting
Hi there guys,
Just some quick background about me before I head to the question so that you can understand my situation a little bit better.
So I am new to the drop-shipping scene. I have finished my site and I am planning to start contacting suppliers here in the UK (for now I want to operate only in the UK due to nature of my business). I have read that before contacting suppliers I should form a company otherwise suppliers will not talk to me. How true is this?
However, I believe it will be professional on my behalf to form one, if I register myself as self employed will this be professional or is a Ltd better? I am aware that with an Ltd there is a lot of responsibility and forms to fill out (accounting wise) and a part of me would prefer not to have to expose my self to that kind of accounting cost before the business even takes off.
To summarise, is it necessary to have a company and is self-employed deemed as professional?
Many thanks
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