This article provides an explanation of each business type option available in step 2 (Tell us about your company) of the verification flow.
BUSINESS TYPE | DESCRIPTION | |
---|---|---|
Limited company | - |
Your business is a legal entity in its own right and can be owned by one or multiple people (shareholders). There are three types of limited company in the UK:
|
Individual / sole trader | - | You are a self-employed individual and sole owner of your business. |
Charity / non-profit | Registered charity | Your charity is registered with the Charity Commission in the UK and has its own unique charity registration number. |
Excepted charity | You operate under the regulation of the Charity Commission but you are exempt from registering or submitting annual returns. You will not have a charity number of your own. | |
Unregistered club or society | You are operating as a local or community club (for example, a local sports team or choir). | |
Other | You are operating as a non profit organisation but do not quite fit into the other categories. This is commonly used by School Associations, Religious organisations and local political groups. | |
Community amateur sports club (CASC) | This applies to sports clubs who have registered with HMRC as a CASC. If you are unsure if this applies to your organisation, you can check the register here. | |
Partnership | - | Unfortunately we are not able to process payments on behalf of partnerships other than LLPs at the moment. We're sorry for any inconvenience this may cause. |
If your business type isn't listed above, please check our article on other company types here.
If you're still unsure on how to proceed, please raise a ticket with our Support team for further assistance.