Business starter info help, pls check!

Anthonis

Hello All,
I want to start my own business, but it looks like i don't know which way to choose and how to do it :rudolf:
Mainly all the job will do I and my wife. Business type is customer service, maybe some selling of product twice a month.


Should we just start to offer those services as self-employed. If yes, please tell what we need to do, how much we will have to pay taxes and how it is counted, what we have to show and how our income will be taxable.
Advantages and disadvantages.


Or to open a Limited company. If yes, tell what we need to do , what taxes do we have to pay?
Advantages and disadvantages.


Business is small,will be involved some equipment to buy and some products that will be used to deploy customer service. So maybe it is possible to return VAT :j

I do know that I need a separate bank account for that. About office rental for now I don't have enough funds, so i think there is no way to save on electricity and gas
Share your tips and advices
Thank you:)
I will add them to top as future help for new starters :A


As an example of business type lets take cleaning services.

steve1980

What is "costumer service"? What is the "product"?

As you haven't got the first clue about what to do you should speak to Businesslink and go on some of the courses they offer.

No one can tell you what to you in regards to SE or LTD, that would be your personal decision.

You have a tax allowance of £7570 per year.

Have a search through the first 20 pages of threads on here and you will find 99% of the information you need.

Anthonis

i have reviewed most of the pages, but everyone's situation is different. I do know most things about companies i just need advice, and in most cases it doesn't matter what kind of service or product i'm going to sell.

motorguy

Anthonis wrote: »

i have reviewed most of the pages, but everyone's situation is different. I do know most things about companies i just need advice, and in most cases it doesn't matter what kind of service or product i'm going to sell.

Based on your questions, and how little you seem prepared to tell us, I think you need to speak to an accountant.

texranger

Anthonis wrote: »

Hello All,
I want to start my own business, but it looks like i don't know which way to choose and how to do it :rudolf:
Mainly all the job will do I and my wife. Business type is costumer service, maybe some selling of product twice a month.


Should we just start to offer those services as self-employed. If yes, please tell what we need to do, how much we will have to pay taxes and how it is counted, what we have to show and how our income will be taxable.
Advantages and disadvantages.


Or to open a Limited company. If yes, tell what we need to do , what taxes do we have to pay?
Advantages and disadvantages.


Business is small,will be involved some equipment to buy and some products that will be used to deploy costumer service. So maybe it is possible to return VAT :j

I do know that I need a separate bank account for that. About office rental for now I don't have enough funds, so i think there is no way to save on electricity and gas
Share your tips and advices
Thank you:)
I will add them to top as future help for new starters :A

the first step is a business advisor (businesslink) they are trained to help those considering starting their own business and run courses on business startup.

also i assume by costumer service you mean Customer Service, but of what services, this help us users to help you out. also without being rude it looks like you are not that good at the english language which being in Customer Service i think would be and advantage to have good knowledge of the english language

Anthonis

I am sorry if I was rude. But mainly are there any diferences in what type of business I am going to start?
I would like to keep it in secret, because it is always used against me.
I had enough of this type info sharing. People are greedy now times....
Only thing I can say that its simple Customer Service, lets take as an example cleaning I think its similar.
Anyways I am not kinda of those people who wants everything. I just want to set up business, roll it up. Then employ some people, give them opportunity to earn, not only to be slaves in work like it is now days.....
Yeah sorry for my English its not perfect, I know, but that doesn't mean that I am bad person...

So for now lets take as an example cleaning services.

texranger

never said you were a bad person because of your english, just that in customer service good english will be preferred so people can understand what you are about.
no need to tell us what you bus idea is fully but a rough idea as each business has different criteria and regulations.

Anthonis

well i know that about regulations I also know some so that's why I said as an example cleaning service

Horace

As others have said, speak to business link as they can offer free advice and free courses on how to set up a business. It isnt just about setting up and hiring staff there is a lot more to it than that.

If you want to start small and sell a product then you could sell Avon, Jamie at Home or something similar either way, there is little outlay on your part other than to buy the various kits although you would still need to register your self employment with the HMRC.

Cleaning is a service, however it isnt a case of turning up with a mop and bucket - cleaners are trained to a high standard these days. They need to know about COSHH and what chemicals to use and not to use and how they should or should not be mixed. They need to know about the different coloured mops and cloths used for cleaning different surfaces (they should never be mixed). They need to know how to use equipment safely too. On top you will have your public liability insurance, if you employ staff you will have to have insurance to cover them, you have to comply with lots of legislation, you will have to pay their wages including their tax and national insurance. So there is a lot more to cleaning than just a mop and bucket.

Have a chat with businesslink - it is a free service.

Anthonis

I am not new in business, I am new in this country I just need to know some things Now you see I said cleaning service and again you started about staff and rules of theirs service... I do know that every type of business has to apply for some rules stated by government or other instances.
I just need advice from which type to start because in every country self employed and limited have a huge differences and I could only open limited if I had more than 50k turnover... And here in UK limited company is easy to open and manage.
Anyways from your info I now know that I would have to have pay insurance + wage,tax,ni.
I just want to know differences of SE and Ltd.

Anthonis

From Businesslink website about SE I found out that Class 2 and 4 NI has to be paid.
Only I don't get about VAT:/ Do i have to charge VAT for every service/product that I offer even i am not VAT registered?