This is just a little rant / tip that I thought I'd mention in the hopes it helps someone else out. I started my business while I was on a government sponsored course, and did so as a limited company because of the extra credibility this gives. I'm claiming tax credits, and I accidentally said I was 'self employed' on the form, rather than 'employed by a company I run' - so now the business has two entities.

I sook some advice, and was told the best thing to do was to let the limited company lie dormant for the moment, file a null return at the end of its year, and trade as just a partnership for the moment. So... I've registered as self employed with the tax office and am doing that, but to re-activate the Limited company as the main company will require putting in a new tax credits claim.

Its not too much of a problem, really, buts its a lot of phone calls, paperwork, and other irritating stuff.

So the moral of the story is be sure you're clear on the status of your company and how it works before starting up. Just miss ticking one box (saying I wasn't on PAYE tax) has caused a fair bit of stress.