Advertising self employed

Annisele

Setting up a company and then keeping it dormant is very cheap to do.

If you're going to invest money in the business "as needed", then there's a chance that English law will see your venture as a partnership whatever you and your friend call it. If you are "carrying on a business in common with a view of a profit" - which you might well be if he's providing labour and you're providing cash - then in the absence of a company, you've probably got a partnership. You might instead have an employer/employee relationship, depending on how you set things up. Or, he might be a sole trader with you lending money to him. There are several other possibilities!

My point is that you need to make a deliberate choice about the legal structure that's best for you - and you need to understand the choice you've made.

Why does your friend need money to set up his business? What does he need to buy? Are you sure that you won't run out of money before he starts earning enough to pay you back?

System

Something that I don't think anyone has mentioned yet, Being self employed ( and I don't care whether that is someone who is new to the country or not) has some advantages but is a long slow grind ( very hard work) for most especially now.

"People here can easily run even small business, without worries that somebody can pressure on you.".... Not entirely true as anyone who has ever had to fill in a 'self employed, self assesment tax return form' may confirm! Also NOT dealing with a bank can have a negative side in that companies (like a cash and carry) you might deal with may want evidence that you have a business bank account before you purchase from them at wholesale prices.

Anthonis

Good morning everybody.
How it's gonna be:
He gonna get money under agreement from my country.
So what ever English law would say, I have nothing to do with his business. In my country he gonna be just person who lend money from me. In agreement, in certain time if he wont return money I will take his property. So fair enough.
Solved

About dormant company: I do understand that it cheap,but... To open Ltd you need director and secretary. So it should be 2 people involved, also he gonna have to each time fill in forms for tax, assessment. Well for now I think he should try to start as sole. Coz if he opens ltd, registers as sole and nothing works out then its gonna be lots things to close.

About bank: He has bank account and that's enough I think.

Why does your friend need money to set up his business? What does he need to buy? Are you sure that you won't run out of money before he starts earning enough to pay you back?

Well he doesn't have so much to set and run smoothly. About buying: basically hard to say. I sorted everything to stages for him. So buying would be if he finds clients. About pay back, well I got warranty. Basically if he looses them, he can always find job and pay me in small bits. I am not a bank that be so cruel.

Not entirely true as anyone who has ever had to fill in a 'self employed, self assesment tax return form' may confirm!

Well you haven't tried to open business abroad. Then you would say that UK law is like butterfly. There are people who go to UK just to open company here and they operate in other country just as branch. They save thousands on tax and other things.

Amatheya81

Anthonis wrote: »

How it's gonna be:
He gonna get money under agreement from my country.
So what ever English law would say, I have nothing to do with his business. In my country he gonna be just person who lend money from me. In agreement, in certain time if he wont return money I will take his property. So fair enough.
Solved.

If the company is being set up in England then yes you do need to worry about what English law says on the matter.

Anthonis wrote: »

About bank: He has bank account and that's enough I think.

That depends. He will have to do TAX returns. As part of that he may need to provide the TAX office with bank statments and he will need to be able to identify everything on them. If he's only making a few quid no problem but it sounds as if he wants to make enough to live on in which case he needs a seperate bank account. Prefurable a business one as he will not look very professional at all otherwise.

Anthonis wrote: »

Well you haven't tried to open business abroad. Then you would say that UK law is like butterfly. There are people who go to UK just to open company here and they operate in other country just as branch. They save thousands on tax and other things.

Umm... This may be the case but I think you will find that if you don't do things properly here you will end up with massive fines and possible jail. We may be "butterflies" but don't take the mick!

Joyful

I would suggest one place for lots of info is the Business Gateway.

steve1980

Sorry but the OP is a joker.

Learn some English and write posts correctly. Speak to an accountant, speak to Business Link and speak to a bank.

Anthonis

Steve you said that on first post, if you dont like something go somewhere else. Get a life ok?!

He gonna follow English law.
He gets money in another country. So in UK I have nothing to do with his business.

Half of businesses in UK look unprofessional, even if they have business accounts so whats now?

We are talking about sole trader.
Sole trader pays NIC and annual tax, insurance, some paper work and that's all.

Now you guys rolled out real offtopic. See above, what where my questions?

I wonder if he could open his own small advertising company?
So my question would be are here any restrictions on advertising?
Can company give discount to other company for distribution?
And how to register/protect company name that later nobody would take it till he is sole-trader?


There were only 2 people who gave answers related questions.
And everybody else just asks or says thing which I don't need.

You are like those bank persons, if you come to make money transfer they always ask: " Do you have house insurance?" "Why not" Now we have...." I came just to do money transfer, if I would like insurance I would ask for....
Same goes here... I came here with certain questions. So answers must be related to questions!

Amatheya81

Go to business link where you will get professional advise on matters that will effect the business. They may not be only the matters you think you need to know about but they will be relevant to the business your friend intends to set up.

If you ask questions on a open forum you have to expect a certain amount of conversation, question and unasked for advise. For the most part this will be because people are trying to be helpfull by pointing out things you may not have thought of. Very few of the postsers above were trying to be anything but helpfull but several of your comments caused concerns that we felt needed to be commented on.

In a asside and this is mearly my own oppinion. You seem to have a chip on your shoulder about the way you treated in England. I'm aware you have had one or two less than friendly replies but there is no need to have a go at all of us!

Annisele

Anthonis wrote: »

There were only 2 people who gave answers related questions.
And everybody else just asks or says thing which I don't need.

You might not think you need help, but several of the things you've said are just plain wrong - and could potentially get you in a lot of trouble.

However, you clearly think you know the answers to everything except your four questions. I can't answer those questions without more information from you - so I'll just tell you to go seek paid-for professional advice and leave it at that.

Anthonis

You might not think you need help, but several of the things you've said are just plain wrong

Well ok, let's discuss on that. Please point me out where I am wrong and why?
You see I am person who needs fact's. Saying wrong is not enough for me. I always need to know why.