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Vas kaj moti? Imate predlog? Brez zadržkov podelite svoje mnenje za nami. P.S.: Če želiš povratno informacijo, prosimo pripiši svoj email in z veseljem bomo odgovorili! Hvala z pomoč.
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First you will need to decide which legal structure is right for your business before you register and start trading. It’s important to understand the different risks and benefits before you choose.
You can register your business as:
If you’re a sole trader, you’re running your own business as an individual. You can keep all your business’ profits after you’ve paid tax on them.
Sole traders’ legal responsibilities:
You’re personally responsible for:
How to set up as sole trader:
You must register with HM Revenue & Customs (HMRC) as soon as you can after starting your business.
If you register later than 5 October in your business’ second tax year, you could be charged a penalty. For example. If you start up as a sole trader during tax year 2012 to 2013, you must register before 5 October 2013.
Naming your business
You can use your own name or trade under a business name. There are rules on using a business name. For example, you can’t:
You must include your own name and business name (if you have one) on any official paperwork, like invoices and letters.
Sole traders’ tax responsibilities
You must:
You will also have to register for VAT if you expect your business’ takings to be more than £77,000 a year.
A limited company is an organization that you can set up to run your business. It’s responsible in its own right for everything it does and its finances are separate to your personal finances.
Any profit it makes is owned by the company, after it pays Corporation Tax. The company can then share its profits.
Who owns limited companies
Every limited company has ‘members’ - people or organizations who own shares in the company. Directors are responsible for running the company. Directors often own shares, but they don’t have to.
Limited companies’ legal responsibilities
There are many legal responsibilities involved with being a director and running a limited company. Most limited companies are ‘limited by shares’. This means that the company’s responsibilities for financial liabilities it can’t pay are limited to the value of company shares that haven’t been paid for.
For example. A company limited by shares issues 1,000 shares valued at £1 each when it’s set up. Its 2 shareholders own 250 shares each. If the company goes bust, the maximum it has to pay towards outstanding bills is £500 - the value of the 500 shares issued but not paid for.
Company directors aren’t personally responsible for debts the business can’t pay if it goes wrong, as long as they haven’t broken the law.
Other types of company
Most companies are private companies limited by shares. There are 3 other types.
How to set up a limited company
You must set up the company with Companies House and let HM Revenue & Customs (HMRC) know when the company starts business activities.
Every financial year, the company must:
The company must register for VAT if you expect its takings to be more than £77,000 a year.
If you’re a director of a limited company, you must:
Register your company
Before you register:
All limited companies must be registered (incorporated) with Companies House. To do this you need:
How to register:
Fees and how long it takes:
Online takes 48 hours and costs £15 (paid by debit or credit card or Paypal). Postal applications take 8 to 10 days and cost £40 (paid by cheque made out to ‘Companies House’). You can get a same day service by post. It costs £100 but you must get your application to Companies House by 3pm.
Name your company
The names of all private limited companies in the UK must end in either ‘Limited’ or ‘Ltd’ and the name can’t:
The Welsh equivalents of ‘Limited’ or ‘Ltd’ are ‘Cyfyngedig’ and ‘Cyf’.
Companies House has more guidance on company names.
Registering a company name doesn’t mean your trademark is protected, you have to register trademarks separately.
Registered address
The registered office address is where official communications are sent – e.g. letters from Companies House and HM Revenue & Customs. The address doesn’t have to be where you operate your business from but it must be:
You can use your home address or the address of the person who will manage your Corporation Tax if these addresses meet the rules above.
The most important thing on Dealstocker is choosing what to sell, since your success will mostly depend on that. Read more about what to sell in our “What to sell” section in Selling tips and tricks.
Check if there’s real demand for what you’re planning to sell. When starting a retail business, think about testing your idea by taking a short-term lease on premises for a few weeks or months.
Here are some useful tips:
Dealstocker enables a variety of options so you can develop your own business strategy to get most out of your deals. Read more about business strategies in our “Business strategies” section in Selling tips and tricks.
It is always a good idea to write some kind of business plan or draft to sum up the customer need you’re aiming to meet. It should clearly show the results of your customer research, and that you’re able to explain how you can turn your idea into viable business before you invest lots of time and money. This plan will also be a very helpful tool to convince your potential partners and suppliers.
Finding the right supplier can be one of the most important strategies, since your prices will most likely depend on it.
Once you determined what to sell, it is time to find the right (best) supplier:
You’ll need to agree on payment terms with your suppliers, and get them in writing. This includes your ‘trade credit’ period (within how many days you agree to pay invoices), and whether they can offer you discounts for things like buying in bulk or quick payments.
The next logical step would be building a website to sell your products. But guess what. You do not have to do that, because we did it for you! Read more about how to sell in our “How to sell” section.
Related topics: Selling tips and tricks • What to sell • Business strategies
To read more about setting up your business please visit https://www.gov.uk/starting-up-a-business/set-up-your-business