Business structure orientation check

Where are you now?

Choose the closest description.

Planning a new business Already trading and reviewing the structure Earning some money but unsure whether this is a business Unsure whether I am genuinely self-employedFor example, one organisation controls how, when or where I work.

Who will own and run the business?

This determines which structures are realistically available.

I will be the only owner Two or more people will own and run it together Other people may invest without running the business day to day Not decided yet

What level of financial or contractual risk could arise?

Think about debts, claims, valuable contracts, premises, stock and equipment - not just current turnover.

LowLimited commitments, low borrowing and relatively modest exposure. ModerateMeaningful contracts, equipment, premises, employees or customer claims are possible. High or potentially highSubstantial borrowing, contracts, assets, regulated work or claims could arise. Not sure

How do you expect to use the profits?

This is about cash needs and plans, not a prediction of which structure pays less tax.

Withdraw most profits for personal living costs Retain a meaningful amount to fund growth A mixture of withdrawals and retained funds Too early to know

How do you feel about administration and public filing?

A company or LLP brings Companies House responsibilities and information on a public register.

Keep the formal administration as simple as reasonably possible Comfortable with more formal records, filings and public information Comfortable if an adviser helps manage it Not sure what would be involved

What might the business need in the next few years?

Choose the strongest likely direction.

Remain owner-operated and relatively straightforward Employ people, take premises or enter larger contracts Bring in investment or additional owners Build something that could later be sold or transferred Too early to know

Do any of these circumstances apply?

Select every relevant item. These do not decide the structure, but they can make individual advice important.

An existing business or its assets may be transferred Land or property is involved Owners may contribute or share profits unequally Shares, profits or income may involve family members The work is regulated or involves client money An owner, activity, customer base or asset is overseas Substantial borrowing, investment or personal guarantees may be needed None of these applies Not sure

Check your answers

You can go back and change the most recent answer before producing the orientation result.

This is an orientation result, not legal or tax advice. It will identify structures and issues worth exploring rather than choose for you.

Understand which structures are worth comparing.

Check your answers