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| *Ostroff, Fair and Company>>>Small Business |
Starting up a company? |
Hi every 1 im really thinking about starting my own electrical services company i just dont no how i should go about getting legal like Vat numbers, tax , getting registered. you no things like that any 1 just stated up that can me? i was a bit like you when i started in business - i knew what i wanted to do, and knew how to provide my service, but i had no 'business' experience and didn't know about how to set up, what legal structure i needed, if i needed to register for things like data protection, how to do bookkeeping etc.. i did a short business planning course which really helped me and we covered all the basics. i would highly recommend doing this. alternatively you are going to have to dedicated lots of time researching these things. i found trading standards good for advice when i started. use some of these links to help you get started... http://www.clearlybusiness.com/advice-an... http://www.starttalkingideas.org/next_st... http://www.businesslink.gov.uk/... http://www.newbiztips.net/default.aspx... http://www.startups.co.uk/dom2lv92ca.htm... good luck with your business venture! x where do you live...every country has different rules. i go into this stuff next year, sorry. but we did do a little experimenting with fake business games. my company made ice cream vending machines located in schools. we only made companies but didn't see the outlook or whatever. surely though you must know exactly the cost of everything, the quarters of the company, the amount of employees, why your community needs that business and not something else, etc. there was a website we used to help construct these businesses, and outline examples and guides for specific businesses. although i can't remember sorry :( You have to consult with specialist law year or sales tax consultant if you are really serious about business . Another thing, write english in correct spelling or this may cost you a lot in business prospect . You may visit enterpreneur development authority of local government / Small scale industry directorate or NGO in your area for free preliminary enquiry at first to decide your mind before going to a costly professional . www.businesslink.gov.uk www.barclays.co.uk/ businessstartups You only need to register for VAT once your turnover hits 拢64k in a 12 month period. You need to register for income tax with HMRC within 3 months of starting and there is a helpline on their website www.hmrc.gov.uk. Your local tax office and the website has lots of leaflets and resources to help you with making your tax returns, but the essential things are: 1. open a business banak account and make sure all business income and expenditure goes through there. 2. keep proper records of income - issue invoices to all customers, whether they ask for one or not and keep all receipts for purchases, including motoring receipts. 3. If you feel you can't handle the paperwork, ask someone to help you and get professional advice, Trades like electricians are easy business for HMRC to investigate because of the high number of cash transactions, so make sure you do everything properly. |
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