Sheffield Dave
31st December 2008, 02:06
Hello all,
I have read lots of threads but would still really appreciate a little advice from anyone out there.
I am fully employed as an engineer but would like to take my photography hobby to a new level as local businesses are interested in buying my prints.
I estimate that my income from this venture will be small (£1,000-£1,500 annually) but I would like to look professional and have my own company name. The name I want is available at companies house but do I need to go down the whole route of becoming a ltd company and fill in forms 10,12 and the memorandum and articles of association, or is there an easier way? Also, even if the income from this side business is below £1,500 would i still have to inform the tax man as i am fully employed (under £30,000 annually and no conflict of interest)?
Please help as my head hurts!
I have read lots of threads but would still really appreciate a little advice from anyone out there.
I am fully employed as an engineer but would like to take my photography hobby to a new level as local businesses are interested in buying my prints.
I estimate that my income from this venture will be small (£1,000-£1,500 annually) but I would like to look professional and have my own company name. The name I want is available at companies house but do I need to go down the whole route of becoming a ltd company and fill in forms 10,12 and the memorandum and articles of association, or is there an easier way? Also, even if the income from this side business is below £1,500 would i still have to inform the tax man as i am fully employed (under £30,000 annually and no conflict of interest)?
Please help as my head hurts!