PLEASE NOTE: The charity TaxAid advises only those people on low incomes whose problems cannot be resolved with HMRC.

Regulation

Starting a new business

There are many Government regulations in force that will affect you, whether you operate as a sole trader, partnership, or company. These include tax, national insurance, VAT, Health and Safety Regulations and employment law (if you have others working for you). Additionally, if you trade as a company you will be subject to company law.

There can be big penalties if you get things wrong. Working for yourself may mean that you are your own boss, but it comes at a price – you are responsible for everything. The Government website is a possible starting point – https://www.gov.uk/browse/business . There are a number of Business Support helpline –  https://www.gov.uk/business-support-helpline .