It is a sole proprietorship. It is the simplest form of conducting business in England.

 

The business must be registered at HMRC no later than 3 months after launching. Persons running a one-man business can remain under a contract of employment as well.  

 

As a self-employed person, You have to pay National Insurance Contributions. Every one-man business is assigned a UTR number, it is a 10-digit tax number. Each self-employed business is obliged to submit tax settlements.