Business Start up


C

Coach

Want to trade as a Sole trader
1 how much to setup
2 will still work at my normal job full time
3 what national insurance do I have to pay - expected turnover very low
4 what accounts do I have to produce?
5 What do I have to have to get a merchant account from a bank

any info appreciated or where I can find some

cheers

Coach
 
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P

Peter Saxton

Want to trade as a Sole trader
1 how much to setup
No costs except what you need to run your business.
2 will still work at my normal job full time
OK

3 what national insurance do I have to pay - expected turnover very low
2 pounds per week
4 what accounts do I have to produce?
Yearly

5 What do I have to have to get a merchant account from a bank
Main ones wont usually accept you with no record. You can try
www.worldpay.co.uk or others like that.
any info appreciated or where I can find some

cheers

Coach


(e-mail address removed)
 
J

John Pointon

Coach said:
Want to trade as a Sole trader
1 how much to setup
2 will still work at my normal job full time
3 what national insurance do I have to pay - expected turnover very low
4 what accounts do I have to produce?
5 What do I have to have to get a merchant account from a bank

any info appreciated or where I can find some

cheers

Coach

1 how much to setup

Virtually nothing apart from the cost of business stationery which you
may be able to design and produce on your P{C initially although do
make sure you buy decent paper to use for it.

You should display your VAT registratiom number (if your turnover is
above the registration limit) on all your invoices.

If you propose trading under a name other than your own your
stationery,business cards invoices and purchase orders should state
"Proprietor "Coach"".

You should check the terms of any tenany agreement or lease if you are
proposing to work from home and also your insurance liabilitiesif yo
do so.

will still work at my normal job full time

Even though your self-employment will initially be part time, you
should inform the Revenue that you have begun wself-employment within
90 days of doing so or they will impose a penalty for late
registration. This is achieved by completing form CWF1 (obtainable
from any tax office and also at www.inlandrevenue.gov.uk where you can
also obtain much useful information on startups).

what national insurance do I have to pay - expected turnover very low

You will still pay National Insurance Contributions (NICs) on your
full-time earnings. You will also have to pay them on your
self-employed earnings in two stages. Stage 1 is a flat rate Of £2 per
week Payable either by direct debit or quarterly by cheque or cash.
You may be exempt if your self-employed earnings are less than £4,095
a year. Stage 2 is known as Class 4 contributions due at the rate of
8% on taxable profits of £4,615 to £30,940 per year and 1% above
£30,940 per year. These will be paid with any income tax which may be
due on your profits in January and July each year.

4 what accounts do I have to produce?

The Inland revenue publish a range of leaflets and booklets setting
out in clear language their record-keeping requirements and how to
implement them


5 What do I have to have to get a merchant account from a bank

As a new business you are going to find it difficult to obtain a
merchant account. Banls usually, expect to see at least a year of
trading before considering you and some insist on three.


If I can be of any further assistance, do not hesiatae to ask.

John Pointon
"In business to grow your business"
(e-mail address removed)
 
P

Peter Saxton

But if profit is above £4615 in 2003/04 then a further 8% on profit
above £4615 is due.

DF
When he said turnover very low i must admit i thought the profits
would be even less!



(e-mail address removed)
 
J

John Pointon

Keith said:
John said:
[...]

John Pointon
"In business to grow your business"
(e-mail address removed)
If you're in business to grow other businesses you may wish to review
your knowledge of the English vocabulary.

I am aware that, as with mathematics, those under the age of 35 are
increasingly unable to spell or enumerate [1] but I expect a response in
a professional newsgroup to show a modicum of education.. especially
those claiming to "..help..."

[1] in modern vernacular - " increasingly thick.."
It does seem a pity that certain, notably antedilivian, members of
this group value form over substance and merely look out for petty
points to criticise.

Presumably, they are here to learn for their ignorance of any decent
manners presumably means they have few, if any, clients.

in modern vernacular "tetchy....rude.....and .... past it"
 
K

Keith

John said:
Keith said:
If you're in business to grow other businesses you may wish to review
your knowledge of the English vocabulary.

I am aware that, as with mathematics, those under the age of 35 are
increasingly unable to spell or enumerate [1] but I expect a response in
a professional newsgroup to show a modicum of education.. especially
those claiming to "..help..."

[1] in modern vernacular - " increasingly thick.."
It does seem a pity that certain, notably antedilivian, members of
this group value form over substance and merely look out for petty
points to criticise.
Possibly you mean 'antediluvian'..

... I rest my case.
 
P

Peter Saxton

Keith said:
John said:
If you're in business to grow other businesses you may wish to review
your knowledge of the English vocabulary.

I am aware that, as with mathematics, those under the age of 35 are
increasingly unable to spell or enumerate [1] but I expect a response in
a professional newsgroup to show a modicum of education.. especially
those claiming to "..help..."

[1] in modern vernacular - " increasingly thick.."

It does seem a pity that certain, notably antedilivian, members of
this group value form over substance and merely look out for petty
points to criticise.
Possibly you mean 'antediluvian'..

.. I rest my case.
what an appalling advertisement you are for this group and how stupid
and foolish you make yourself look.

Instead of dealiong with the topic, you prefer to sit on your piles
and grouch at others!

Perhaps the abortionists do have a case!
He's quite sweet really.



(e-mail address removed)
 
N

Nick Yermoney

As a new business you are going to find it difficult to obtain a
merchant account. Banls usually, expect to see at least a year of
trading before considering you and some insist on three.
So how the hell does a company ever manage to do any trading before
the year/3 years are up. Cash/cheques and no credit cards?

Probably about to come across this "headache" soon, and looking for a
way round it. CC's would be so much easier despite them burning a hole
in potential profits.


--
 
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M

Moonface

John Pointon said:
"Coach" <Coach.Pantusso@ntlworld.com> wrote in message


1 how much to setup

Virtually nothing apart from the cost of business stationery which you
may be able to design and produce on your P{C initially although do
make sure you buy decent paper to use for it.

You should display your VAT registratiom number (if your turnover is
above the registration limit) on all your invoices.

If you propose trading under a name other than your own your
stationery,business cards invoices and purchase orders should state
"Proprietor "Coach"".

You should check the terms of any tenany agreement or lease if you are
proposing to work from home and also your insurance liabilitiesif yo
do so.

will still work at my normal job full time

Even though your self-employment will initially be part time, you
should inform the Revenue that you have begun wself-employment within
90 days of doing so or they will impose a penalty for late
registration. This is achieved by completing form CWF1 (obtainable
from any tax office and also at www.inlandrevenue.gov.uk where you can
also obtain much useful information on startups).

what national insurance do I have to pay - expected turnover very low

You will still pay National Insurance Contributions (NICs) on your
full-time earnings. You will also have to pay them on your
self-employed earnings in two stages. Stage 1 is a flat rate Of £2 per
week Payable either by direct debit or quarterly by cheque or cash.
You may be exempt if your self-employed earnings are less than £4,095
a year. Stage 2 is known as Class 4 contributions due at the rate of
8% on taxable profits of £4,615 to £30,940 per year and 1% above
£30,940 per year. These will be paid with any income tax which may be
due on your profits in January and July each year.

4 what accounts do I have to produce?

The Inland revenue publish a range of leaflets and booklets setting
out in clear language their record-keeping requirements and how to
implement them


5 What do I have to have to get a merchant account from a bank

As a new business you are going to find it difficult to obtain a
merchant account. Banls usually, expect to see at least a year of
trading before considering you and some insist on three.


If I can be of any further assistance, do not hesiatae to ask.

John Pointon
"In business to grow your business"
(e-mail address removed)

Good to see your post, I've seen other very useful and helpful posts that
other people will find useful. Don't let anybody antagonise you, many people
on usenet have nothing better to do than criticize well meaning posts such
as yours, for no other reason than puffing up their own self importance.
 
J

John Pointon

Keith said:
Do you resort to personal abuse of your clients when they, too, point
out your shortcomings? Why not attempt to improve your standards? A
spell checker might be a good start..
A spellchecker is not available if you post to any group from Google.
I have to because my broadband provider does not include a newsgroup
feed in its package.

It would have been better had you concentrated on the substance of the
posting (upon which you have offered no comment whatsover and to which
you have made no positive contribution) rather than the form and not
made totally false assumptions based upon your own petty prejudices
about my age, character or ability.

Pedants such as yourself, who start a flame war over a misplaced comma
but contribute nothing positive are the absolute bane of many groups.
 
D

David Floyd

A spellchecker is not available if you post to any group from Google. I
have to because my broadband provider does not include a newsgroup feed
in its package.
I am not entering into this particular argument in this thread, but if
JP is interested in an independent news thread in the conventional
manner then take a look a look at:

http://news.cis.dfn.de/

and click on the English version.

DF
 
P

Peter Saxton

I am not entering into this particular argument in this thread, but if
JP is interested in an independent news thread in the conventional
manner then take a look a look at:

http://news.cis.dfn.de/

and click on the English version.

DF
I tried to get this site but the link didn't seem to work.
 
J

John Pointon

David Floyd said:
I am not entering into this particular argument in this thread, but if
JP is interested in an independent news thread in the conventional
manner then take a look a look at:

http://news.cis.dfn.de/

and click on the English version.

DF
Many thanks, David.

I am awaiting their completion of the registration process.
 
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P

Peter Saxton

The link worked for me. Perhaps the server was temporarily down. The
service is offered by the Free University of Berlin.

I am awaiting their completion of the registration process.
Yes. I got it now!

Regarding news servers, there are plenty of good ones that you can pay
a few dollars a month for. Do a search for one that suits.
 
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