Welcome to the MYCO Works Blog

When forming a company in the UK, two key terms often cause confusion: registered office address and trading address. While they may sound similar, they serve very different purposes. Understanding the distinction is essential for meeting legal requirements, protecting your details, and presenting a professional image.

What is a Registered Office Address?

A registered office is the official legal address of your company, provided to Companies House at incorporation. It serves as the primary point of contact for government correspondence.

Key points:

• It is published on the Companies House register
• It is legally required for all UK limited companies and LLPs
• It is used by HMRC, Companies House, and other authorities for official mail
• It must be a physical UK address within the jurisdiction of incorporation (England & Wales, Scotland, or Northern Ireland)

What is a Trading Address?

A trading address is the location where your company carries out its actual business activities. This may be an office, shop, warehouse, or home address.

Key points:

• It is not listed on the Companies House register
• A company can operate from multiple trading addresses
• It is typically shared with customers, suppliers, and couriers

It is commonly displayed on invoices, websites, and marketing materials

Do You Need Both?

Whether you need both depends on the nature of your business:

• Home-based businesses: Your home address can serve as both, though many owners prefer to use a registered office service to keep personal details confidential.
• Businesses with premises: An office, shop, or studio can function as both addresses.
• Companies with multiple sites: Using a separate registered office address makes compliance simpler if you have multiple locations for your business.

Can a Trading Address Also Be a Registered Office?

Technically, a trading address can also serve as a registered office if it meets Companies House requirements. However, many businesses choose to separate them to keep their trading location private, simplify record changes when they move premises, and add an extra layer of protection.

Why the Difference Matters

The registered office ensures your company never misses critical government mail, while the trading address makes sure customers and suppliers can reach you where business actually takes place. Confusing the two could mean overlooking important notices or sending customers to the wrong location — both of which can cause serious problems for your business.

Looking to Use a Registered Office Provider?

At MYCO, we offer registered office addresses in Central London, Edinburgh, and Ipswich — giving your business a credible presence and ensuring official mail is always handled securely.

Our services include:

• Expert support – outstanding service from our experienced team
• Secure mail handling – all official correspondence is received, scanned, and uploaded directly to your client portal free of charge
• Director address protection – upgrade to our Registered Office + Director Service Address package for just £10 extra to keep your director details confidential

Final Thoughts

A registered office is the legal foundation of your company, while the trading address represents your day-to-day operations. Whether you choose to use one address for both purposes or keep them separate, accuracy is key to staying compliant and building trust with your customers.

Ready to take the next step for your business with confidence? Explore our address services today.

Article by Coconut

For many sole traders and small private UK landlords, things are about to get more challenging, with the fast-approaching phased introduction of Making Tax Digital for Income Tax. This will drastically change how most sole traders and landlords are required by law to maintain records of their income and expenses, as well as report summaries to HMRC so that their tax bill can be calculated.

The introduction of MTD for Income Tax (from 6 April 2026) will mean that sole traders and landlords will have more tax-related deadlines to meet throughout the tax year (6 April to the following 5 April). And although MTD will ultimately replace Self Assessment for many UK taxpayers, there will be a brief period of cross-over.  

Key to meeting any important deadline is knowing exactly when that deadline is. Created to help you to avoid having to pay late-filing penalties in the near future if you’re captured by the first phase, here is a list of important tax-return filing deadlines heading your way in the next few years, relating to Self Assessment and MTD for Income Tax.

Key tax filing deadline dates 2026-2028

• 31/01/26 – 24/25 Self Assessment tax return online-filing deadline.
• 07/08/26 – Year 1 MTD for Income Tax Q1 quarterly update.
• 07/11/26 – Year 1 MTD for Income Tax Q2 quarterly update.
• 31/01/27 – 25/26 Self Assessment tax return online-filing deadline.
• 07/02/27 – Year 1 MTD for Income Tax Q3 quarterly update. 
• 07/05/27 – Year 1 MTD for Income Tax Q4 quarterly update. 
• 07/08/27 – Year 2 MTD for Income Tax Q1 quarterly update. 
• 07/11/27 – Year 2 MTD for Income Tax Q2 quarterly update.
• 31/01/28 – Year 1 MTD for Income Tax final declaration due.

Making Tax Digital for Income Tax key facts

• The first phase of the introduction of MTD for Income Tax will start on 6 April 2026, which will affect sole traders and landlords with a gross annual trading/rental income of more than £50,000 (estimated to be about 780,000 taxpayers).

• Gross trading or gross rental income means income earned before any tax expenses are deducted.

• From 6 April 2027, sole traders or landlords with a gross annual trading/rental income of more than £30,000 will be impacted by new MTD for Income Tax rules.

• From 6 April 2028, sole traders or landlords with a gross annual trading/rental income of more than £20,000 will need to comply with new MTD for Income Tax rules.

• Once impacted, you must maintain comprehensive digital accounting records of your sole trader or landlord income and expenses.

• You’ll need to update your financial records fully before the end of every quarter, although more regular updating is recommended.

• According to the above deadlines, each quarter you must digitally report income and expense summaries to HMRC.  

• You can either use MTD for Income Tax-compliant accounting software or “bridging software” that enables you to report your summary figures digitally to HMRC if you use digital spreadsheets to keep financial records.

• After your fourth quarterly update you can make tax and accounting adjustments.

• Then, using your software, you’ll need to make a final declaration to HMRC, confirming that all of the data you’ve supplied is accurate and complete.

• You’ll then find out how much tax you owe, although throughout the year the software will give you a rough idea.

How to get ready for MTD for Income Tax

• Having MTD for Income Tax-compliant software is essential. If you don’t have an accountant, you’ll need to sort this out yourself. 

• If you’re already using accounting software, contact your software provider to find out whether it’s MTD for Income Tax compliant and suited to your circumstances (ie you might need to report sole trader and rental income).

• Once you get your MTD for Income Tax accounting software, it’s wise to get used to using it, but that should be simple enough. Reach out to your software provider if necessary.

• Budget permitting, you could seek support from an accountant or bookkeeper if you’re really struggling to comply with MTD for Income Tax requirements.

• Once you’ve sorted out your software, you could voluntarily sign up now for MTD for Income Tax, so you can get used to its requirements nice and early.

• You will still need to submit a 2024-2025 Self Assessment tax return. Not everyone will be able to sign up now because there are restrictions. Visit government website GOV.UK for more information.

About Coconut

Coconut is the easy way to sort your finances without the headache.

Built with sole traders in mind, it helps you track income, log expenses, and keep on top of your taxes – without piles of paperwork or confusing spreadsheets. Whether you’re on site or on the move, Coconut makes it simple to know what you’re earning, what you’re owed, and how much tax you need to set aside. Less faff, more graft.

Get started with Coconut today and take a 30 day free trial.

See just how easy it is here!

Article by PolicyBee

Most insurers’ policy wordings are littered with insurance jargon and legalese, leaving them (and their readers) mired in a muddle.

This begs the question: why is the most important information made the least accessible?

How do you know what’s covered by your insurance if you don’t know what the words mean? 

Yes, we know these are legal documents. And yes, we know they have to be watertight and unambiguous. But that’s no excuse for making everything unintelligible, is it?

But until insurers realise times have changed and insurance jargon is neither wanted or needed, it looks like we’re stuck with it.

In the meantime, we’ll help you cut through the waffle by explaining a few particularly tricky pieces of jargon. So that next time you’re faced with a policy wording, you won’t have to google something every other sentence.

Insurance Jargon Used in Your Policy Documents Explained

Conditions

The conditions in your policy set out everything the insurer expects from you. Like making your payments on time or reporting incidents to them within a certain timeframe.

Medical malpractice policies in particular can come with lots of conditions so it’s important to read these properly. Miss a step somewhere, and your insurer might just step out of paying your claim.

Civil liability

All professional indemnity insurance policies cover your professional negligence. But some limit their cover to just that, while others pick up any other civil liability claim against you too.

This means you’re covered for claims made against you in a civil court, and subject to civil damages, not necessarily related to your professional negligence.

Deliverables

‘Deliverables’ are defined as software, hardware, firmware, cabling or electronic equipment. They’re usually only specifically covered under an IT professional indemnity policy.

If part or all of your contract involves designing, producing, or supplying these things, and they’re either not up to spec or are proven defective, you’re covered if your client sues you for breach of said contract.

Discovery run-off

A professional indemnity insurance extension that comes into effect when the policy expires. Often called run-off cover or just run-off.

If a claim is made against you after your policy’s ended, it’s not covered – even if it relates to work you did when your policy was running. Having run-off cover means it is. How long you have it for is up to you, but at least a year is a good idea (unless you’re a chartered accountant or an architect, and then it’s six years).

Duty of disclosure

This shows (some of) the information about your business your insurer needs to calculate how much to charge you. Broadly, it notes your turnover and payroll figures at the time you bought insurance, as well as things like the industry you work in.

It’s a good idea – and a condition of your policy – to keep an eye on these figures and to keep your insurer updated throughout the year. A significant revenue increase, for example, could mean you’re suddenly underinsured without knowing it.

Indemnity

The basic principle of insurance. If you suffer a loss, it’s your insurer’s job to make sure you’re not out of pocket. In reality, this means paying you money or replacing an item.

The idea is you’re returned to the same financial position you were in before the loss/claim happened.

Indemnity to principals

If a client alleges you’ve been negligent, and sues you for their losses, your professional indemnity insurance covers it.

But if, because of your negligence, your client (the ‘principal’) is sued by their client, an indemnity to principals clause in your policy means your insurer has to cover your client’s client’s losses too (the ‘indemnity’).

If you’ve spotted an indemnity to principals clause in a client’s contract, you’ll need to ask your insurer if they’re happy to cover it. Whether they will or not depends on the work you’re doing, and how much it’s worth. Don’t assume it’s covered.

Material fact

Anything that influences the insurer’s decision to cover you, under what clauses/exclusions/warranties/terms and conditions, and for how much, is a material fact.

You’re expected to ‘disclose all material facts’ when you get your insurance. If you’re not sure what constitutes a material fact, you could do worse than tell your insurer everything about you and your business. They don’t like surprises, after all.

Statement of fact

An important one, this. It’s a list of statements confirming the things your business does and doesn’t do. Your insurer’s decision to cover you, and under what specific terms, is based on this information.

If it turns out you do something when your statement of fact says you don’t, and there’s a claim, your insurer has every right not to cover it. Better make sure it’s right, then.

Subrogation

If you’re sued by your client for something that’s not actually your fault, and your insurer pays out, your insurer can recover their losses from the culpable third party. This is called their right to subrogation.

Essentially, it’s passing the cost of the claim on to the person or organisation that’s actually at fault.

Vicarious liability

Usually only relevant to recruitment and employment agencies, vicarious liability covers both an agency’s negligence and that of the people it places.

Non-vicarious liability, by the same token, limits the cover to just the agency’s negligence.

Whether you need it or not is determined by your contracts. Whether your insurer offers it or not is determined by what your placements do.

Jargon Busting

Hopefully that busts a few tricky bits of insurance jargon that have been plaguing you.

We know how frustrating jargon can be. That’s why we always try to cut it from as much of our communications with our customers as possible.

Unfortunately, you will still find it in your policy documents. The insurer writes these themselves, so we can’t change them. But we are always here to help explain them in plain English.

Looking for small business insurance? Click here to get your personalised quote with PolicyBee today and protect your business with confidence.