VAT (Value added tax)
PAYE (employer registration)
VAT Registration: You can voluntary register for VAT at any time in the capacity of an individual sole trader or Limited Company. If, however your turnover reaches £85,000, or is predicted to do so then it will become mandatory to register for VAT.
PAYE (Pay As You Earn) Registration: When a business starts, it is required to register with the HMRC as an employer the moment it hires employees even if it is only one employee. The registration should be done in advance before the business makes its first payments. The PAYE scheme requires you to deduct income tax and national insurance at the correct rates each time a salary is paid. These deductions must then be reported to HMRC.