And last but by no means least, your small or home based business has to consider its tax and VAT or sales tax situation.
At this point the whole “offshore” question should become uppermost in your mind.
Is it relevant, applicable, tenable?
If not, do you need to register for VAT or sales tax, have you informed your tax office of your business’s inauguration?
And if you’re UK based (and have resisted the urge to move to sunnier climes) make sure the National Insurance Contributions Office is notified of your intention to commence self-employment or you could face a fine.
The bottom line when it comes to taxation is that from the outset you need to make sure your papers and books are in order, this will save you time, money and heart ache in the long run.
Shelter Offshore urges you to carefully consider all of the above points before starting out and get specialist professional advice along the way.
We recommend the following expert guide from Amazon as further reading: -
Starting Your Own Business: How to Plan, Build and Manage
Jim Green
A great book for anyone thinking about starting a business from scratch with little or no experience. Using simple but illustrative examples, the author raises and discusses many of the practical issues of starting up. The book is a very readable introduction that gets the reader thinking along the right lines, and is full of references to other sources of information on more specific topics.
Reviews: -
Management Today
“Encouraging and practical, Green’s book covers all the basics. An entrepreneur himself Green knows the questions to ask.”
Making Money
“An easy-to-read and motivating book.”
Click here to order a copy directly from Amazon!
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