- Original Poster
- #1
hi i've just stumbled accross the forums, and would like to introduce myself. im an undergraduate from london who wants to startup a business for the first time. I have excellent marketing methods therefore i have a passion/drive to suceed in whatever it is i am doing.
ok heres the sketch: i want to create an internet business like swoopo.co.uk, its a penny auction site, where users buy bids in order to place bids. the bid increment itself gos up by a set amount such as 10pence, but each bid costs 50pence to place.
once the auction ends, we will go out and purchase what the user won and post it to them. therefore we do not have any stock nor require any stock.
the questions:
what sort of company do i register for this business?
what sort of taxes will i be incurring?
ok heres the sketch: i want to create an internet business like swoopo.co.uk, its a penny auction site, where users buy bids in order to place bids. the bid increment itself gos up by a set amount such as 10pence, but each bid costs 50pence to place.
once the auction ends, we will go out and purchase what the user won and post it to them. therefore we do not have any stock nor require any stock.
the questions:
what sort of company do i register for this business?
what sort of taxes will i be incurring?
