Anyone run their own business?
20 February 2004, 12:36 PM
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www.infraserv.co.uk
must update my blurb. i wrote that before i got involved in all the health and safety stuff. i think i'll add a photo, too - one of johnny depp, maybe.
must update my blurb. i wrote that before i got involved in all the health and safety stuff. i think i'll add a photo, too - one of johnny depp, maybe.
Last edited by ProperCharlie; 20 February 2004 at 12:37 PM.
20 February 2004, 03:09 PM
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20 February 2004, 06:37 PM
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20 February 2004, 06:43 PM
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20 February 2004, 07:43 PM
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i run my own blast cleaning company BL4ST IT cleaning block paving brick work concreate ect at very reasonable rates and are willing to give back handers to any body running a big company or council nudge nudge wink wink
27 February 2004, 12:54 PM
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I run my own company installing network cabling www.universal-technology.com Been going for nearly 7 years.
Andy
Andy
28 February 2004, 10:01 PM
#20
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So let me get this right - between us we could create a very safe, tax efficient, low emmissions burning MX5 with great suspension which has hi-tech blinds and which parks in a nice secure garage with roll-up doors at the end of a very clean drive? Oh and we could even sell memorablia to commemorate such an achievement! 
28 February 2004, 10:03 PM
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we can also cut down the tree that obscures your sight lines as you are reversing out of the drive, and gas the rabbits that are digging holes in the lawn.
<they don't call me the environmentalist for nothing>
<they don't call me the environmentalist for nothing
>
29 February 2004, 09:43 AM
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Ok ... so here is a questions for you ... how difficult was it for you to set up. I want to sell some items in the UK ... wanna set up a website etc ... but how and what do I need to do to register it as a business or do I just declare it as extra income on paye ??
Dave.
Dave.
29 February 2004, 05:41 PM
#23
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Dave,
Ok, first thing you need to do is find a good accountant as your personal circumstances will decide if it's best to be sole trader or Ltd. Company etc and he/she will know best. Both have pro's and con's and whilst there is more paperwork and returns to do with a Ltd. company (and hence more expense) this is always a route I take as a/ it offers you some element of financial protection if the business goes t*ts up and b/ it looks a damn site more professional. Legally you'll need to notify the inland revenue about your commencement of trading and possibly HMC&E as well, depending on how much you think you'll turn over in the 1st year but again your accountant should be able to do this for you as it's just standard paperwork.
Once that is decided you want to start registering assets and my advice here is to keep EVERY single receipt as you can claim back in your first years accounts (i.e offset against profit which you may have to pay tax on depending on ammount). You'll be surprised by some of the things you can claim but beware as there are also many things you can't...especially when it comes to vat which tends to be a lot trickier.
In terms of website - register the .co.uk and the .com and point the .com to the .co.uk if you're targeting a uk audience.
Strictly speaking I don't think you have to pay PAYE (As technically you may not be paying yourself a salary as you become established) but I'd strongly suggest doing so as it helps with your N.I stamps which give you your entitlement for things like pension etc. at 65. Oh, the other good thing about a Ltd. company is that you can pay 'dividends' out of derived profit with tax at just 10% so just pay yourself a small wage through PAYE and if you do have any profit then take the rest this way. I normally take very little from a business in year one though as you really need to keep ploughing it all back in and it helps to keep the bank sweet at this stage.
Like I say, a decent accountant whilst not cheap should be able to help. Worth speaking to your local bank as they can often recommend one and if you need any more advice in setting up a new business then please feel free to pm me and I'll gladly offer any advice where possible (I'm no expert but did spend 13 years at Barclays, currently own and run 'Eunosverse' as mentioned in last page and am now setting up a new and additional business which helps businesses get to no1 in internet search engines etc. as well as building ecommerce websites etc...)
Good luck!
Ok, first thing you need to do is find a good accountant as your personal circumstances will decide if it's best to be sole trader or Ltd. Company etc and he/she will know best. Both have pro's and con's and whilst there is more paperwork and returns to do with a Ltd. company (and hence more expense) this is always a route I take as a/ it offers you some element of financial protection if the business goes t*ts up and b/ it looks a damn site more professional. Legally you'll need to notify the inland revenue about your commencement of trading and possibly HMC&E as well, depending on how much you think you'll turn over in the 1st year but again your accountant should be able to do this for you as it's just standard paperwork.
Once that is decided you want to start registering assets and my advice here is to keep EVERY single receipt as you can claim back in your first years accounts (i.e offset against profit which you may have to pay tax on depending on ammount). You'll be surprised by some of the things you can claim but beware as there are also many things you can't...especially when it comes to vat which tends to be a lot trickier.
In terms of website - register the .co.uk and the .com and point the .com to the .co.uk if you're targeting a uk audience.
Strictly speaking I don't think you have to pay PAYE (As technically you may not be paying yourself a salary as you become established) but I'd strongly suggest doing so as it helps with your N.I stamps which give you your entitlement for things like pension etc. at 65. Oh, the other good thing about a Ltd. company is that you can pay 'dividends' out of derived profit with tax at just 10% so just pay yourself a small wage through PAYE and if you do have any profit then take the rest this way. I normally take very little from a business in year one though as you really need to keep ploughing it all back in and it helps to keep the bank sweet at this stage.
Like I say, a decent accountant whilst not cheap should be able to help. Worth speaking to your local bank as they can often recommend one and if you need any more advice in setting up a new business then please feel free to pm me and I'll gladly offer any advice where possible (I'm no expert but did spend 13 years at Barclays, currently own and run 'Eunosverse' as mentioned in last page and am now setting up a new and additional business which helps businesses get to no1 in internet search engines etc. as well as building ecommerce websites etc...)
Good luck!
01 March 2004, 11:24 AM
#24
Originally Posted by DemonDave
Ok ... so here is a questions for you ... how difficult was it for you to set up. I want to sell some items in the UK ... wanna set up a website etc ... but how and what do I need to do to register it as a business or do I just declare it as extra income on paye ??
Dave.
Dave.
Last edited by Henrik; 01 March 2004 at 11:25 AM.
01 March 2004, 12:09 PM
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Im in the process of setting up my own business importing and selling adult equipment and entertainment products which will be sold wholesale and retail via around 45 domain names i own including www.theadultsexshop.com and .co.uk eroticaweb theass and many others i currently get around 1200 hits a month with the pages non active. The big money is made in the live 1 on 1 business as far as im aware.
i recently registered my limited company via http://www.anewbusiness.co.uk/instan...dex_search.htm
they were very helpful and you can also carry out an online search.
to date my biggest problem is opening a business bank account as it appears that several banks have a moral standards policy and are unable to offer me their services :-(
i recently registered my limited company via http://www.anewbusiness.co.uk/instan...dex_search.htm
they were very helpful and you can also carry out an online search.
to date my biggest problem is opening a business bank account as it appears that several banks have a moral standards policy and are unable to offer me their services :-(
01 March 2004, 12:13 PM
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russ i see your second business is getting domain names to the top of searches and ecommerce websites - are you intending on using a readily available shopping cart programme and just adding pretty pics etc or building you own sites from scratch?
01 March 2004, 12:14 PM
#27
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I run a sheet metal fabrication company : aluminium, steel, stainless steel cutting,folding welding etc. We mainly work for the building industry.
Anyone interested in starting up a business should get in touch with Business Link as their advice is free.
Anyone interested in starting up a business should get in touch with Business Link as their advice is free.
01 March 2004, 12:51 PM
#28
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Bunge,
Since most pre-requisites from our customers is a/ the cost and b/ something that is tried and tested and which can be applied quickly I tend to use off the shelf software tailored for the customer.
That said, I can build from scratch but you're obviously talking 'big bucks' as you're talking about development time and in all honesty the off the shelf stuff is damn good nowadays anyhow....
Since most pre-requisites from our customers is a/ the cost and b/ something that is tried and tested and which can be applied quickly I tend to use off the shelf software tailored for the customer.
That said, I can build from scratch but you're obviously talking 'big bucks' as you're talking about development time and in all honesty the off the shelf stuff is damn good nowadays anyhow....
01 March 2004, 02:59 PM
#30
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I work for a company called TaxAssist Direct Limited - a network of small business accountants and tax advisers.
If you want to speak to someone please drop me a line via www.taxassist.co.uk and I will get someone to ring you.
If you want to speak to someone please drop me a line via www.taxassist.co.uk and I will get someone to ring you.