A Limited company is a separate legal entity, which you can set up to run your business through. Most video game developer start-ups will choose to form a Limited company, as this is one of the most recognised forms of trading.
The well-known headline rule for the exemption of a couple’s main residence is that it is being increased to £1m per couple. However, the rule is not that straightforward and the detail contains some hurdles to clear.
The compulsory VAT registration threshold is £83,000. You must register for VAT if:
your VAT taxable turnover is more than £83,000 in a rolling 12 month period
you receive goods in the UK from the EU worth more than £83,000
you expect to go over the threshold in a single 30 day period
Many start-ups will begin with one or two directors and no other employees. The minimum wage rules do not apply to directors of UK Limited companies, which allows them to have extra flexibility over payroll.