Switching your account type
You can’t change your account type from a sole trader to a limited company yet - we'll be in touch when you can make this change. Until then, your account will stay the same.
Update your business name
While we can’t change the account type, we can change your account name to your new limited company name.
To do this, your business must be registered with Companies House. You will need to give us:
Your eight-digit Companies House number
Your new limited company name
Important tax changes
When you set up a limited company, your tax rules change. The main differences are:
Legal status: A limited company is a separate legal entity from you
Ownership: Money in a limited company account belongs to the company, not to you personally
Tax: The company’s income is taxed separately from your personal income
Note: You should speak with a tax professional or accountant if you are unsure how these changes affect you.