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Setting up a business...?
This is a discussion on Setting up a business...? within the The Roadside Hotel forums, part of the Members Area category; Im seriously considering it, what do i need to look out for? Its not a massive outlay to get the ...
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26-05-2008, 22:22
| #1 |
| is chilled out!  Join Date: Aug 2007 Location: Scunthorpe, Nth Lincs
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|  Setting up a business...? Im seriously considering it, what do i need to look out for? Its not a massive outlay to get the equipment either, and i can do it from home... I mean VAT income tax etc 
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26-05-2008, 22:23
| #2 |
| Geordie Lass  Join Date: Oct 2005 Location: in the ceiling watching you.....
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| Re: Setting up a business...? What sort of business?
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26-05-2008, 22:27
| #3 |
| is chilled out! Join Date: Aug 2007 Location: Scunthorpe, Nth Lincs
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| Re: Setting up a business...? Vinyl decals window tinting etc Im artistic and got an eye for that kinda thing...
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26-05-2008, 22:31
| #4 |
| Geordie Lass Join Date: Oct 2005 Location: in the ceiling watching you.....
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| Re: Setting up a business...? Keep all your receipts and have a word with an accountant, they will tell you what you should look out for. I run as a limited company, but wouldn’t necessarily recommend it for a small start-up business, I’d wait for your business to establish itself first as the Accountants fee roughly doubles once you add the word Ltd, as you will then need a Charted accountant.
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27-05-2008, 09:14
| #5 |
| is chilled out! Join Date: Aug 2007 Location: Scunthorpe, Nth Lincs
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| Re: Setting up a business...? Thanks for that.
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27-05-2008, 09:17
| #6 |
| Briskodian  Join Date: Apr 2007
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| Re: Setting up a business...? Ring up the inland rev, they are really really helpful! Im sure there is a goverment run scheme to help out new small businesses. Get on the web and have a look. Good luck mate and go 4 it!
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27-05-2008, 10:46
| #7 |
| BRISKODA Staff Join Date: Dec 2003 Location: old house
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| Re: Setting up a business...? Steve - You have a pm on this. |
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27-05-2008, 11:00
| #8 |
| Here's Johnny !  Join Date: Nov 2004 Location: Edinburgh
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| Re: Setting up a business...? You could PM KTP on here, he runs his own company doing decals etc.. Might be able to give a few pointers. |
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| The Following User Says Thank You to Johnny50 For This Useful Post: | youngsyd (27-05-2008)
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27-05-2008, 11:14
| #9 |
| Briskodian  Join Date: Feb 2008 Location: ****-ryside
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| Re: Setting up a business...? phone barclays they are the best at small business |
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27-05-2008, 11:51
| #10 | |
| Dinosaur  Join Date: Oct 2002 Location: North of the Watford Gap
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| Re: Setting up a business...? Quote:
 They have a good info pack.....
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27-05-2008, 12:15
| #11 |
| Briskodian Join Date: Feb 2008 Location: ****-ryside
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| Re: Setting up a business...? i know, i'm a local business manager for them, ha ha ha |
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27-05-2008, 15:30
| #12 |
| is chilled out! Join Date: Aug 2007 Location: Scunthorpe, Nth Lincs
Posts: 2,169
Thanks: 70
Thanked 91 Times in 88 Posts
| Re: Setting up a business...? Thanks for that
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27-05-2008, 19:51
| #13 |
| Legend!!  Join Date: Oct 2006 Location: Portsmouth
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| Re: Setting up a business...? I know a good and reasonably cheap accountant if you need one, PM me if you want. Good Luck mate. Steve
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27-05-2008, 20:06
| #14 |
| Mongreller  Join Date: Apr 2003 Location: Ooo-ar, Oi be from Devonshire
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| Re: Setting up a business...? VAT limit is £67k turnover p.a at the moment, so keep yourself below that if you want to avoid the hassle of admin'ing VAT. Income tax you will pay on your bottom line if you're not going to form an actual company - That will be the usual £36k odd @ 20% and the rest at 40%. Do it through a company and you pay 21% corporation tax on profits, and personally pay 10% on dividends taken out (so works out better if you're going to earn a lot where you pay 40% as a sole trader) I know a cheap accountant too.
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