Business Start Up Advice.

[Sara Satchell]

I've been "doing nails" now since mid 2002, along side a part time job - which i left in October last year. I now want to get "official" and register etc etc but I don't know where to start. I have been self employed about 6 years ago as a childminder but I expect it's all different now. My profit after costs (but not tax/ins) is around £50 per week on average...

Some of the key questions are:

• Do I need an accountant?
• Who do I need to inform (mortgage provider/inland revenue departments/council/House insurance/car insurance/national ins etc etc)?
• Do I have to have a business bank account?
• Do I need any permits as I work from home and mobile?

Any help is greatly appreciated....

 

[emmad]

I'm no expert but I'll do my best to help......

In the past I've been mobile, I now have a salon at home and move into my own premises next month.

You do not have to have an accountant unless you want help with your tax return.

You should register with the inland revenue as a low earner and opt out of NI contributions if you choose.

You should check with your mortgage company if you intend to work from home that its OK. Full planning permission is normally required to run a salon at home big style but keeping it fairly limited and casual with mostly freinds and family as clients I have managed to avoid that so far.

You will need public liability insurance and make sure your kit is insured. I've never adjusted my car insurance. Most people can drive it to and from work without a different premium and I never leave kit in my car unattended anyway.

You do not need a business bank account unless you feel the need to keep your business and personal banking seperate.

No permits as far as I'm aware.

Being self empployed before I'm sure you are aware but keep a note of EVERYTHING you spend or earn!!!

HTH

 

[whackeykitten]

Hi Sara,
I'm not working from home but I've been doing some research before setting up in business.

You don't necessarily need an accountant if you're good with figures. You could just keep your own records and sort out your own tax and NI. I've decided to let my son sort out the day to day stuff 'cos he's super puter geek and then let an accountant deal with the tax each year.

You have to let your insurance provider know as you're dealing with hazardous chemicals which means you'll still have to follow COSHH Regs. You'll also need public liability insurance.

you need to let council know, infact, I believe you have to ask permission due to road usage. They actually tried to stop my sister setting up in business as they said it would increase traffic

You don't need to inform car insurance unless you're planning on going mobile, if you're working from home then your car is not part of your business.

http://www.powerhomebiz.com/Index/workathome.htm

i've found that link quite useful, hope it helps

 

[Bagpuss]

Hiya....when i registered with the Inland Revenue they offered me a free coarse to attend ... it was local and gave loads of help for new people starting self employed....it was for about 4 hours and i found it really useful....ITS FREE ....nothing to lose and everything to gain....i am sure if you ring them there will be one in your area.

It covered insurance....booking keeping...what you can claim for.....and they answered as many questions as you like....HTH...xxxxxx

 

[Tiger Jay]

I had exactly the same, I went on a 5 day course with Business Link and that was free too. Found it really interesting. Alot of it was a little too in depth for what I wanted as a Mobile Tech, but it helped me no end!

Hiya....when i registered with the Inland Revenue they offered me a free coarse to attend ... it was local and gave loads of help for new people starting self employed....it was for about 4 hours and i found it really useful....ITS FREE ....nothing to lose and everything to gain....i am sure if you ring them there will be one in your area.

It covered insurance....booking keeping...what you can claim for.....and they answered as many questions as you like....HTH...xxxxxx

 

[Sara Satchell]

Cheers for all your help everyone. I've sent off for a few info packs from the banks on starting a small business. I think my forst port of call needs to be the Inland Revenue.....here go's nothing!!