A mail order online catalogue alternative spiritual shops selling all manner of goods from sets of runes to demon sigil talismans, from crystal healing kits to hex kits. What papers would I need? What do I need to do regardin tax and NI contributions and stuff to set this up?
2006-11-29 01:41:26 · 3 answers · asked by Anonymous in Business & Finance ➔ Small Business
Rule number one - take proper professional advice before proceeding.
It is fairly immaterial what your business is or does or how it does it.
If by "papers" you mean "records" then you must keep such books and records as will enable you to properly report your taxable profit to the Inland Revenue and to satisfy them if you come under audit.
You do not need to register for Tax (PAYG) or NI unless you have paid employees.
If you have no idea about this, then I suggest that you go on a small business course at something like your local tech before you make any calamitous mistakes and run foul of legislative requirements.
2006-11-29 02:00:21 · answer #1 · answered by Billybean 7 · 1⤊ 0⤋
Contact the Inland Revenue.
If you are earning money from this business you need to inform them to pay NI and tax.
If the company is just you, then you can just set up the business however, if you are a limited company then you will have to register your name at Companies House, complete all the director and secretary forms and gain a certificate of incorporation.
Best of luck.
2006-11-29 10:00:32 · answer #2 · answered by Valiant 3 · 0⤊ 0⤋
well just to start you would been VAT and Contracts for your supplyrs
2006-11-29 10:35:34 · answer #3 · answered by chris wick 3 · 0⤊ 0⤋