Hello, this is the first time I ask for advice here, so I hope I'm posting this in the correct section. I plan to switch from a personal account to a business one soon, but I'm struggling to understand what type of business I should select.
I'm an art student in the UK and I will start working as a full-time freelance artist in a few months. I will mainly focus on selling intangible goods (digital drawings) for clients. Moreover, I want to start streaming my art process on a streaming website (Twitch) that allows content creators to gain revenue from both streaming and tips.
Of course, I will soon register as self-employed with the HMRC, but I also want to set up my PayPal business account accordingly.
I looked at the different business types, and I'm struggling to understand if I should opt for Individual or Sole owner.
I'm also struggling to understand what merchant category code (MCC) I should select, as I feel like my practice doesn't really fall into a specific category.
Any help/advice is extremely appreciated!
