Are We a Limited company or self employed?

Very confusing times. We Are Vultures is in the process of being set up, but as sole employee am I self employed or director of a limited company? As you can tell I am one person, and as law have to register the business because hopefully I will be earning money from it and therefore have to pay tax. But as i am a sole owner do I really need to become a limited company which then becomes soo much more complicated? Very confusing, I have been trawling the net for advice but there seems like no one who has said anything about this nor anyone available to email. If anyone has any advice please contact me wearevultures@hotmail.com