New venture - sole trader novice

edited 17 April 2018 at 8:20AM in Small Biz & Charities' MoneySaving
3 replies 1.3K views
LLM2018LLM2018 Forumite
135 Posts
Uniform Washer
Hello. I'm looking for some advice. I am looking to become a self employed sole trader with a website.

I am a complete novice as I have always been employed. I'm looking for a step by step guide at what to do.

I have been researching and there is too much information so I'm getting in a muddle argh.

I have no idea how to set up a website, get a domain name etc. Do I have to pay for monthly services? If so who do you recommend?

Also do u have to tell Hmrc now or only when I submit a tax return form next year if I'm successful?

Many thanks
#78 PAYDBX '19 £3770/3880 paid
#54 SPC 12 £497.53 :)

Replies

  • jonesMUFCforeverjonesMUFCforever Forumite
    28.9K Posts
    Part of the Furniture 10,000 Posts Name Dropper
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    First of all what are you self trading in?
    Do you actually need a website now to start with or do you have a list of clients you do work for?

    My opinion don't complicate things to begin with.
    You will need to inform HMRC that you are self employed.
  • jshm2jshm2 Forumite
    346 Posts
    That's one of the downsides to finding on the Internet vs networking in your local Chambers or groups. You don't get the breakdown or relevance to you in all regards in the former.

    If you're using ebay or some group like Wix, or woocommerce then there is usually a lot of help available. As far as trading goes. you only need declare and register once you hit the threshold.

    What you do and how you so it depends on your business and chosen business model

    You don't always need to have a domain and hosting, especially if you're just looking at an online shop, Shopify and others give you all the tools and support you need and you just concentrate on traffic and business.

    Moving from employed to self employed will affect your tax credits (if you're on them) and change your tax band so let them know AFTER you have made the switch.
  • OzzukOzzuk Forumite
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    See if there are any free or cheap digital marketing workshops in your area. Our council did one, my partner said it was excellent. Don't bodge a website, a poor website will do more damage than good.

    Along the same lines, you should be able to find a business mentor, I did years ago - I can't remember if it was via the council or adult learning type centres.
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