2006-08-14 00:14:00 · 3 answers · asked by Anonymous in Business & Finance ➔ Small Business
I am sole proprietor of my little business. All I did was go online to the IRS and get a sales tax form, and same for state and I registered my business name. When you are sole proprietor it's all your's, baby. Headaches and all.
2006-08-14 12:38:18 · answer #1 · answered by blondee 5 · 0⤊ 0⤋
Hi there,
Sole proprietorship is the easiest form to start a business. In UK, you'll need to fill a form which declare yourself as self-employed and to assess your tax status with Inland Revenue.
Depending on size of your business turnover (i.e. money coming into your business), you may need to register for VAT.
If you have certain technology you may want to file a patent through Patent Office in London.
Unlike a company, you don't need to legally register your business. But having a business plan will be useful as this will help with opening business bank accounts and having a loan etc.
Just a small note, if you are considering online presence, buy your domain name ASAP.
Have fun and good luck with your business.
Thuta xxx
2006-08-14 00:26:36 · answer #2 · answered by marcusthuta 2 · 0⤊ 0⤋
It depends where you are. You need to be specific and ask about a specific country. The laws are different everywhere.
2006-08-14 00:17:18 · answer #3 · answered by Perplexed Music Lover 5 · 0⤊ 0⤋