Having being accepted onto the government New Enterprise Allowance scheme, i’m now an up and trading business! Hurrah!
As you may have guessed there are a few little hurdles for new starters, so i’ll take you along with me as i attempt to tackle them.
First of all Registering with HRMC.
Whether you are setting up a partnership, Ltd company, going self employed, or a sole trader, you must register with the Taxman as soon as possible! Serously. T’aint worth the aggro if you don’t.
If you’re a UK resident, the relevant info is here: https://www.gov.uk/browse/business
It takes 5 minutes and there is a wealth of advice on how to handle your taxes out there. As i am a numerical dunce who genuinely has a freakin panic attack when thinking about taxation, i took a course on the topic via BRAVE
and if you are Bristol based, there is also OUTSET
Most areas have equivalent programmes, and theres always the good old Jobcentre if you can stand it… All worth a look – i feel much better about it all…but will still be employing an accountant asap.
Next, Registering the Company Name…phew!
Meanwhile, enjoy this clip of someone giving the Taxman hell xx