Ask HN: Do I need to set up a limited company in the UK?
Hi HN,
A friend and I are soon launching a small subscription-based web application, charging a small monthly fee. We don't expect it to make huge amounts of money, so is it actually worth going to the hassle of setting up a company along with a business bank account for a project that might ultimately fail? Any advice would be appreciated, as neither of us have much knowledge of setting up small businesses. I would highly recommend setting up a formal business for personal liability protection, you wouldn't want some "small subscription-based web application" to tank you financially for years to come in some off the wall legal case no one could have seen coming. Always protect yourself and family.