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Do I need to register my business? - Robert Kristensen - 04-08-2014 08:02 PM
Hey,
Im thinking of starting my own events management business doing small scale events whilst im studying. I was just wondering if I have to register my business with hmrc? As I don't plan on charging for my services to start with so that I can build up my portfolio.
Help muchly appreciated
x
- Tom - 04-08-2014 08:11 PM
Yes you would need to. If you do find that you are making money, you would have to give tax. Also, I doubt you will be able to receive finance from external loan providers without a registered business name. Try "Companies House". That's where I registered mine.
- Georgina - 04-08-2014 08:16 PM
No you do not if you do not plan to charge. You only register with hmrc if you are charging and become self employed. You're not self employed you are a student!
If you do start charging after you graduate then you need to register as self employed within 3 months of launching.
Only if you earn over the allowance (£48,000 approx) only then do you have to register for vat.
- Kernow Lady - 04-08-2014 08:19 PM
You have to register yourself as self employed not the business. You have 3 months to do this, so keep accounts from day 1. Georgina is way out over VAT, you need to earn 77K a year before you have to pay it.
UK
- Rep - 04-08-2014 08:23 PM
Yes, you need to register your business name with your state or county agency that registers names. If you want to run a business as a sole proprietor, you can do so under your social security number or, if you are hiring someone to help, under your federal employer identification number. Most cities and towns now require that, in order to 'do business' in that community, you must obtain a business license and that registration is mandatory.If you earn money, of course you need to register your business