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,
- How to filter to show only rows with 'Total' in description? 159 4
- Micro Entity Accounts 256 3
- SA -2012_13 return - worth changing? 106 2
- Recourse to Accountant for incorrect accounts 1,551 14
- IHT dilemma 1,231 18
- Aweb tracking ... 162 3
- PAYE 1,150 16
- Entrepreneurs Relief 533 24
- Self Assessment - Declaring Pension Lump Sum on Tax Return 74 1
- Gifts from limited companies 137 2
- Construction Industry Allowable expenses 349 8
- Are any of you agents for doctors? 330 2
- VAT 84 1
- RTI overpayments gap 225 3
- Can a once active Limited company become dormant? 196 5
- Sage payroll alternatives 549 11
- Call Centre Data Costs 276 1
- Authorised share capital 130 4
- international employer please help!! 183 4
- Capital gain? 294 6
- Auto enrolment excuses 1,121
- Feedback on accounts production software for IFRS 785
- Add T&Cs to Sales Order in Sage 471
- Digita Hosted Software 301
- Credit where credit's due....... 240
- Buying goods in US and selling them to company in US 215
- Director phone costs 192
- General rule: Evidence that the customer is in business 167
- DAILY PENALTIES / APPEALS 166
- Warning for freeagent accountants using payroll import 144