As a qualified accountant, I have been asked for some basic financial advice from a family member on becoming a self employed maintenance/home improvement person. Apart from bookeeping, I dont know where to start ! do you have any general advice, or do you know any good publications on matters such as whether to set up a company name, paying NIC, tax and pension contributions, etc.
A Noon
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From the horse's mouth?
You could do worse than try the Inland Revenue's own website and make use of its New Employer's Helpline and leaflet P/SE/1. Won't help with strategic planning, but it's free and accessible. Go to http://www.inlandrevenue.gov.uk/startingup/index.htm
The blurb begins: These pages aim to help you understand some of the many things you need to think about when you're running a business, especially the main tax and National Insurance issues. We also highlight some other important areas of the law which aren't the Inland Revenue's responsibility - and we suggest where to go for further, more detailed information.
The IR Helpline for the Newly Self-Employed
is on 08459 15 45 15.
Open from 8am to 8pm, seven days a week.
Call for advice on tax and National Insurance.
To speak to someone in Welsh, call 08457 660 830.