What type of company are we?

Partnership.

• Very common in professions.
• Minimum of two partners - max 20.

• Advantages
• Quick and easy to form. 
• Larger amount of capital available.
• Cheaper running costs - e.g. rent.
• Each partner can specialise in one aspect of the business.
• Burden of work shared.
• Ideas developed easily.
• Personal contact with customers.

• Disadvantages
• Lack of capital for expansion.
• Disagrements.
• Need for consultation leads to inflexibility.
• Decision of one partner is binding. 
• Does not have limited liabilty.

Don't need to worry about corporation tax or PAYE as we have no employees - just ourselves.