How do i set up my own business in the UK??? Please Help?

Question

I am planning to set up a small architectural, design firm, and am wondering how i will go ahead in doing so. Do i have to register it in the company house etc? and what about tax registration etc, as i will be mainly employing myself, and maybe one or two others... any help would be much appreciated,,,

regards

http://www.dna-designteam.com

Answer 1

Tell the local Inland Revenue office within 3 months after starting your business, they will give you a tax reference number, keep records and receipts of all ingoings and out goings in a day account book available from Partners, at the year end the IR office will send u a tax self asessment form, easy to fill in, also u can pay national insurance contributions by direct debit (class2), if u earn under 60k (i think) u pay no VAT, if u employ staff phone the IR office and they send u a new employers pack with dvd and all info, thats it really, if you need an accountant find a good one locally in yellow pages. Advertise for work in newspapers, internet, Yellow Pages, word of mouth etc Good Luck
ps no need for company house unless u r starting a limited company, better to keep it simple and not do that.
ps2 Alliance & Leceister do a good business builder account with 2 years free banking and u get a debit card and cheque book/online banking, free cheques yep...

Answer 2

Simple really, and very cheap.
Either buy the weekly 'Exchange and Mart' magazine, or get onto their web site, its full of ads on starting your own business!
For around less than £100 you can start your own Company! For that money they will do all the leg work and provide your company stamp and see to all the registration, in fact all the tricky bits!! And it will only take a few days.
You then visit any bank and open a business account!!
Piece of cake.
Then its down to you advertise advertise advertise, if you already have contacts in the pipe line you've cracked it already, oh yes one other thing it will help if you get the aid of an accountant when you first set up, but do not go over the top on your initial outlay!!
Good luck!!

Answer 3

Phone the inland revenue. They are very helpful at giving advice on what to do and how to do it. Also go to citizens advice they are more likely to be able to point you in the right direction locally. Good Luck.
Been there and done it, and still doing it!