New Company - selling stuff?

[ITContractorUK]

I want to sell things through my own website.
What type of company do I need to register? Costs?

 

[TotallySport]

I hope you put more effort into you business than your post, it depends on alot of different things, do a search on the forum for start up costs and you should find most of the information you need.

Registry depends on how you want to run the business, and what your selling, might be best talking to an accountant.

 

[ITContractorUK]

Sorry for my brief initial post.

My plan is to start selling mugs on internet. People can go in to my website and design their own mugs and then order them. They end up with a personalized mug for cheap. I will also target companies who wants to buy mugs with their own logo on etc.

There are a number of sites already that does this but I believe I can do it cheaper than them since this will be a business on the side of my day-to-day job.

I will search this forum and see if I can get any information about costs for startup. Just thought I get an idea before I talk to an accountant..

 

[TotallySport]

If its running along side your other job, then you would have to declare yourself as self employed and therefore you tax rate will change at your main work.

TBH your better getting an accountant to sort this out for you unless your know what your doing.

Selling mugs is very niche and almost all printers will personalise a mug, the issued you will have are time, if a company has to wait for an order, they might not use you.

Good Luck

 

[sysops]

There are a number of sites already that does this but I believe I can do it cheaper than them since this will be a business on the side of my day-to-day job.

With a bulletproof business model like that, I don't see how you could possibly fail.

 

[logicfusion]

If you start this as a sole trader, I think you will need to register to pay class 2 and 4 national insurance.

This is in addition to your normal job contributions.

I think class 2 is collected monthly by direct debit and class 4 at year end on your self assessment. You can apply for exemption on one of these if your profit is below a certain threshold (4-6k I think). (please double check what I have said)


Also you will have to complete self assessment. I suspect your personal allowance tax code will change in view of this - but that doesn't mean your employer will know you are moonlighting. The additional income could after all be from residential lettings.

You do really need to research this yourelf, even before speaking to an accountant (so you will be equipped with questions, and get better value from the consultation).