New Business Start up question
Quite new here so I hope you can help me.
I am looking to start a web design business. I have some associates over-seas who are web designers.
I wish to market and sell their services to web design companies in the UK and also from a small company I form.
I already have a full time job here in the UK, therefore paying tax, NI etc.
I want to start as a sole trader, maybe even a partnership (this is still in discussion).
I highly doubt I will be meeting the VAT threshold, for the first year anyway. I am aware that I need to pay tax etc, but how would this work considering im already working full time?
I have never owned/started a company before.
What would my steps need to be to put this in place?
Register as sole trader? (if so do I still need to register business name?)
Open business bank account?
How would I pay taxes etc, how much would I pay? - this is the part which confuses me the most.
In other words, can you provide me with step by step instructions on what I need to do legally to start trading?
I look forward to hearing from you.
Kind regards, and thank you in advance for your advice,
- Can my company contibute more than 40000 to my pension in a tax year? 245 5
- . 184 2
- Freelance/Employee 647 17
- Recommendations for online payroll software 189 1
- Accountant Specialization. 251 2
- Rectify overpaid childcare vouchers, how? 164 2
- CT600 - Credit balance in expenses? 163 6
- Claiming VAT on car lease 448 27
- Capital Gains Tax on property with multiple uses 95 1
- Returning papers to ex-clients 594 7
- How to network with other Accountants? 679 5
- Correcting earlier year CT600s 126 2
- Agent Authorisation Issue 184 2
- CWF1 - is it still required?? 331 6
- Is it just me ... 289 5
- Duplicating Sales and COS but does not impacting bottom line? Legal? 289 4
- CIS registration when already registered for PAYE 119 4
- HMRC Agent Accounts - PAYE 352 10
- Taxable Benefit for Director? 222 1
- Directors exempt from AE? 1,539 18
- Chart of account segments; Balance sheet vs P&L 747
- Any knowledge of salesorder.com 405
- Could and would anyone here carry out a hot file review of some non statutory audit work please? 354
- Electric Car 288
- S222 Charge 237
- Corporation tax penalties and fines on the CT600 185
- IP trans to holding company 183
- Software to Deal with Amazon and Ebay Sales 171
- AIA 166
- Best way to convert Sage data to VT Transaction+ 164