Good morning! In the coming months I’m going to be launching a new card game under the company name of Paradigm Games. I’m based in the UK. The company is trademarked but not yet officially registered as I’ve been told I don’t need to register as a sole trader until I’ve earned £1000 in the previous tax year. In the account settings of my Spreadshop it’s asking for lots of details including TIN and VAT ID which suggest that I should be a sole trader.
Is it possible to run a spreadshop without being a sole trader and have the money sent to my normal bank account? I’ve set up a seperate saver account so it has its own account no and sort code but it’s not a official “business account” at present.
I understand that VAT ID is only necessary if you earn over £85000, so that can be left blank. But what do I enter as my TIN? You only get a TIN when you start sending tax returns, if I’m not a sole trader yet I don’t need to do this. Any advice most welcome.