bUSINESS CUSTOMER BASICS

UPDATED: March 2026

With around around 5.7 million businesses in the UK today, the B2B market offers great opportunities to increase sales.

IWith 50% of new vehicle registrations coming from the business market, use this guide to give your B2B customers confidence that you understand their:

  • Business structure
  • VAT Status
  • Accounting and reporting schedules

There are 4 main key business structures in the UK:

Sole Trader
Ordinary Partnership
Limited Liability Partnership
Limited Company

These structures can either be categorised as either being ‘incorporated’ or ‘unincorporated’.

Essentials Tip: WHAT’S THE DIFFERENCE?

The key difference between incorporated and unincorporated businesses lies in their legal status: Incorporated businesses are separate legal entities from their owners, offering limited liability, while unincorporated businesses are not, with owners having personal liability for business debts.

Sole Traders

The simplest – and most popular –business structure in the UK are Sole Traders who are their own bosses and have complete control over all decisions.

Ordinary Partnerships Guide

Ordinary Partnerships

Ordinary Partnerships allow two or more people to work together towards their common business goal, sharing the workload, responsibilities, risks and rewards.

Limited Liability Partnership

Limited Liability Partnerships (LLPs)

LLPs combine the flexibility of an Ordinary Partnership with the limited personal liability and separate legal identity that characterises a Limited Company.

Limited Companies

Legally distinct bodies that can own assets and sign contracts, Limited Companies keep a business’ finances separate from the owner and shareholders’ finances.

Business Accounting

Use this guide to discover how Balance Sheets, Profit & Loss Accounts and Cashflow Statements are used to map a company’s progress. 

VAT Calculator

VAT

VAT-registered or not, it can make a difference to how a company acquires business vehicles. Understand how it works for cars, LCVs and HGVs.