New business questions

[nickjb]

If its just you, a brush and a van then sole trader might be a better option. It takes minutes to register on-line, no fees. You'll need to fill out a tax return but the paperwork is much simpler than Ltd.

You should be able to get free business banking up to a limit of so many cheques per months, etc. They might charge for certain transactions like getting cash from a branch but normal stuff like cashpoints, paying in cheques, etc should be free. You don't really need it.

You can still give yourself a fancy name and invoice and advertise as a company. You just need to put something like 'Joe Bloggs trading as JB Building Services' on any paperwork.

Insurance will be for you damaging someones property while on site. Pretty essential.

 

[alumni]

I have had my own business most of my life. always keep things small, no need to be a ltd company, avoid VAT as long as you can. if the business name is your name you can pay the cheques into your account. business accounts cost money and a business cheque is a worthless pice of paper. you will need advice from an accountant before you start.

Not strictly correct advice.

Even with a modest turnover it can be more profitable to be LTD.

VAT - Depends who the mainstream customers are. Also depends on how much kit you have to buy.

I would always advise getting a seperate business account, even if self employed. No, they don't need to cost. Most banks have free accounts now.

 

[securespark]

we sue AXA for our business

I take it this was a slip of the finger....

we use AXA for our business

 

[merlin50]

you can call it what you want with out it being limited
business cheques are a waste of time as suppliers often will not take them, and the charges are ok for the first few months then they go sky high,

 

[Mw Roofline]

Even with a modest turnover it can be more profitable to be LTD.

I'm assuming you on about Corp tax ?

 

[alumni]

Even with a modest turnover it can be more profitable to be LTD.

I'm assuming you on about Corp tax ?

More the N.I. contributions and reduced Income Tax.

 

[oasistechnical]

securesparks.
PMSL
i forgot to proof read before posting!!!

Oasis