Simple business questions

[GMAN2009123]

New to this - muy first post. Looking to set up samll business from home by myself. But have some questions that always pussled me.

1. How much profit/revenue do you need to make per week/month/year before you need to pay tax.

2. Do you have register a company name in company house only when you make profit?

3. Can you set up test company websites and only if you make a profit register with companoies house.

4. How much does it cost to set up a website - what are the steps. I want to pay someone to do it - is there anything that web designer will not do i.,e add you website on google list.

5. Can you buy product that was manfactured/designed by a third party to sell from abroad or uk. Are ther a any special rules involves involved - and how would I know.


6. How does e-bay selling work? Do you need to register a company name or can you simpley buy product to sell on without a fuss of taxation/registering names?

7. Any general guidlines - not masses of infromation - just simple easy to understandnd guidelines.


Many thanks,

G

 

[Khalid]

Your not asking for much GMAN !

 

[Khalid]

Try asking one question at a time and you might get more responses - excuse my tone I'm only trying to help

 

[extremedistro]

speak to an account and call business link.....

 

[Dawg]

Your questions can be answered by:
a) reading up on sites like Business Link, and,
b) talking to an accountant.

If you are starting a business I would strongly advise getting an accountant from the very beginning. It will almost certainly save you a lot of time, money and effort, all of which you can put into growing your business instead. The quality of the advice will be much better than you will get on a forum.

 

[JamesCartwright]

As Dawg said getting an accountant to help you from the start can be very advantageous as they can take you through it step by step and advise you on all of these issues.

In terms of these questions:

2. Do you have register a company name in company house only when you make profit?

3. Can you set up test company websites and only if you make a profit register with companoies house.

If you are trading as a company i.e. "Company Name Limited" you must already be registered with Companies House to do this. If you trade as a sole trader rather than a company you will not be involved with Companies House it will be HMRC instead.

James.

 

[JElder]

New to this - muy first post. Looking to set up samll business from home by myself. But have some questions that always pussled me.

1. How much profit/revenue do you need to make per week/month/year before you need to pay tax.

2. Do you have register a company name in company house only when you make profit?

3. Can you set up test company websites and only if you make a profit register with companoies house.

4. How much does it cost to set up a website - what are the steps. I want to pay someone to do it - is there anything that web designer will not do i.,e add you website on google list.

5. Can you buy product that was manfactured/designed by a third party to sell from abroad or uk. Are ther a any special rules involves involved - and how would I know.


6. How does e-bay selling work? Do you need to register a company name or can you simpley buy product to sell on without a fuss of taxation/registering names?

7. Any general guidlines - not masses of infromation - just simple easy to understandnd guidelines.


Many thanks,

G

1) If you are a limited company Corporation tax become payable pretty much all profits. Sole traders pay tax under their tax code. You will also have to pay VAT when you get over the threshold. And National insurance if you have employees.

2) Until you register at companies house you are a sol trader. When you do you are a limited company. There are a lot of advantages and disadvantages to each.

3) See 2. Anyone can set up a website.

4) from £20 to £100,000 or more - depends what you want it to do. Once you have the idea, you need to register the site, host it somewhere, and then create the site code.

5) You will have to pay import duties. There are other rules depending on what it is you are importing. You may need to speak to a shipping agents, as they deal with this all the time.

6) Anyone can buy or sell on eBay. If you are doing it in the course of trade (i.e. buying things to resell) you will need to register as self employees or as a ltd company, and pay tax on profits

7) See: Companies House, Business Link. Speak to an accountant.