Business start up Advice

pscj31990

Hi, I am hoping that I have posted in the correct forum...

I was after some advice please and am hoping someone can help me out.

I would like to set up a business which buys items, both non food and food, from a wholesalers and then sell on at a market stall/Ebay. At the moment, I live with my parter in his student house and the contract says we can not run a business from the property because its a residential area. Therefore, we have decided to run it from his parents house 10 miles away. The stock will be stored in his parents house and no one will be visiting the house, we would either sell it at a market stall or post the items. The house has a mortage on so I know we need to check with the mortage provider but I have the following questions:

- do you need insurance to cover the stock?
- if you do not, will the current house insurance become void?
- is the premises liable for business rates?
- i understand that if you use a room solely for business then it would be subjected to business rates and capital tax if the house was sold
- the stock would be stored at her house but in her bedroom or the living room
- it is okay to register the business as a partnership with me and my partner at the parents address?

If I have missed anything, please tell me

I have looked around and know about the valuation office but I dont want to jump into anything until I am more sure about the business rates because I dont want to get anyone in trouble.

Thank you in advance

spadoosh

I wouldnt register as a business.

Go as a sole trader/partnership not registered and just fill in a annual tax return. no business rates.

How big are you expecting this business to be?!? To stop the room being solely for business use, put a bed in it!

Think you might be trying to overcomplicate it a little. Im no expert on ebay but theres loads who are wholl be along soon.

Suarez

If your selling food from a market stall you will need:

- Basic Food Hygience Cert
- PL Insurance
- A street trading licence from your council

pscj31990

Thank you four comments.

Okay so if I just register as a sole trader - no business rates? I did not know that before, I just presumed if you run a business from home it would be liable for rates regardless of sole trader/limited company etc.

It was just that I would like to run a business but am not on the contract of this house. and then the contract says no business activity. I am thinking of getting a virtual address for 29.99 from i-support-business so that can be the registered address.

Yeah I knew I needed the cert and licence, did not know about insurance, will look into that now. thanks

The business will not be massive - its just I like to know everything before I start and make sure I am on the right side of the law.

Thank you for your advice