UK business laws?
- Thread starter Springbok
- Start date
Mr.S.Marbo
New member
Here is a good link on what you need to do when starting up a new business and general advice. Just skip to the bits that you think apply most.
If it is just you working from home probably the main laws you will come across are to do with tax. You will need to register your self employment with HM Revenue & Customs within 3 months of starting (they probably have people / computers looking online to find non registered businesses). Bear in mind that you may also have to pay business rates with your local council if you have business premises or even when working from home.
To register with them and find out more about Self Assessment (how the self employed in the UK pay tax) you can go here If it seems all daunting don\'t worry too much Business Link and HM Revenue & Customs offer free advice.
Hope that is a good start.
If it is just you working from home probably the main laws you will come across are to do with tax. You will need to register your self employment with HM Revenue & Customs within 3 months of starting (they probably have people / computers looking online to find non registered businesses). Bear in mind that you may also have to pay business rates with your local council if you have business premises or even when working from home.
To register with them and find out more about Self Assessment (how the self employed in the UK pay tax) you can go here If it seems all daunting don\'t worry too much Business Link and HM Revenue & Customs offer free advice.
Hope that is a good start.
generulpoleaxe
New member
you only pay business rates on property you rent for the business.
if you work from home you pay no business rates, i\'m not sure if it changes upon trying to claim rent against the tax as that may incure business rates (and seeing how the goverment is broke they will probably screw you big time)
if working from home then any utility bills can have a propotion set against tax (i.e. if you work in one room for 8 hours a day five days a week then it\'s likely you will be able to claim 50% of your utility bills against tax.
go see your local tax advisor before the goverment closes most of them down to save money (i shit you not)
just give me a shout mate if you need more help.
if you work from home you pay no business rates, i\'m not sure if it changes upon trying to claim rent against the tax as that may incure business rates (and seeing how the goverment is broke they will probably screw you big time)
if working from home then any utility bills can have a propotion set against tax (i.e. if you work in one room for 8 hours a day five days a week then it\'s likely you will be able to claim 50% of your utility bills against tax.
go see your local tax advisor before the goverment closes most of them down to save money (i shit you not)
just give me a shout mate if you need more help.
RuneBrush
New member
Also register yourself with the data protection act. Only about £35 so well worth it. It legally allows you to maintain a database of your customers - i.e. the customer database on your online store. Make sure that your store has a SSL certificate (about £150 a year, though you can get cheaper ones), not only from the obvious benefits, it gives customers more confidence in your store.
Do you own your own property? There\'s pro\'s and con\'s for claiming rent/utilities. If you don\'t own your own property (like me) then any rent charged by your \'landlord\' (whomever that is) must be in turn declared. Which also reminds me that if you rent (as in a have a contract) then check your contract to make sure that you\'re allowed to run a business from home. *breaths*
Personally I\'m self-employed (as well as have a full-time day-job) and just don\'t claim any rent or utilities as for me its not worth the hassle.
Pete
Do you own your own property? There\'s pro\'s and con\'s for claiming rent/utilities. If you don\'t own your own property (like me) then any rent charged by your \'landlord\' (whomever that is) must be in turn declared. Which also reminds me that if you rent (as in a have a contract) then check your contract to make sure that you\'re allowed to run a business from home. *breaths*
Personally I\'m self-employed (as well as have a full-time day-job) and just don\'t claim any rent or utilities as for me its not worth the hassle.
Pete
Legacy Account
Active member
All I did was register with HMRC as a self-employed business. No hassle at all, tax returns are easy (especially if you only accept Paypal payments...) and I got to write off loads of camera gear to tax which saved me lots of money.
Highly recommended if you have a full time job to back up your income
Highly recommended if you have a full time job to back up your income
Hi,
Thanks for all the info guys, it\'s a great help!
Yea, the plan is pretty much to run the business alongside my full-time job, with my first baby 7 months away from being born, I\'m gonna need all the cash I can get to support my family!
Its funny how something like a baby changes everything in your life, i have seven months to increase my income, find a bigger home, get my driving licence and learning no to run away from little eating and pooing machineslol
Thanks for all the info guys, it\'s a great help!
Yea, the plan is pretty much to run the business alongside my full-time job, with my first baby 7 months away from being born, I\'m gonna need all the cash I can get to support my family!
Its funny how something like a baby changes everything in your life, i have seven months to increase my income, find a bigger home, get my driving licence and learning no to run away from little eating and pooing machineslol
generulpoleaxe
New member
become a politician, problem solved.
