Starting own business UK

June 13, 2014
Support for starting a

Only traders

The easiest way to start out a business in the UK would be to be a ‘sole trader’. Which means just you possess the business and you may work alone or use other people.

You will need to register for ‘self-assessment’ taxation, which means you (or your accountant) calculate a income tax.

Simple tips to do it

In order to become a single investor you have to:

Limited organizations

You'll setup a private minimal company to operate your company in britain. You need to appoint individuals operate the business (labeled ‘directors’) and register (or ‘incorporate’) it with businesses House.

As a director of this business, you’re also an employee. This means private income and business income tend to be separate in terms of spending taxation.

To create a restricted organization you will need to:

Business partnerships

In a small business partnership, you’re in operation as someone but all partners share obligation for company.

  • register for self-assessment with HMRC
  • name your organization in accordance with specific rules
  • run the business as a person
Starting your own business
Starting your own business
Deborah Meaden on starting your own business
Deborah Meaden on starting your own business
Starting Your Own Consulting Business
Starting Your Own Consulting Business

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