Hi there,
I currently run my own local small business that is unregistered and not yet an official company. The business is selling American sweets within the UK, I purchase in wholesale and sell individually or in bundles. I'm 18 and am looking for financial guidance on the best way to register the company - likely as a LTD Company and what me doing so would mean for my business, what taxes would I pay? How would the VAT work? Etc.
I'm looking for guidance on what is best for me to create my business so I can begin accessing private wholesalers that will offer better prices and accessibility. Most require me to have a registered business to open an account with them.
Any advice/guidance would be greatly appreciated, if any further details are needed please contact me and I can provide them.
P.S apologies if this is in the wrong forum section.
I currently run my own local small business that is unregistered and not yet an official company. The business is selling American sweets within the UK, I purchase in wholesale and sell individually or in bundles. I'm 18 and am looking for financial guidance on the best way to register the company - likely as a LTD Company and what me doing so would mean for my business, what taxes would I pay? How would the VAT work? Etc.
I'm looking for guidance on what is best for me to create my business so I can begin accessing private wholesalers that will offer better prices and accessibility. Most require me to have a registered business to open an account with them.
Any advice/guidance would be greatly appreciated, if any further details are needed please contact me and I can provide them.
P.S apologies if this is in the wrong forum section.