Download Starting & running a business all-in-one for dummies by Dan Matthews; Liz Barclay; et al PDF
By Dan Matthews; Liz Barclay; et al
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Extra info for Starting & running a business all-in-one for dummies
Sample text
This book walks you through the basic money matters you’ll need to know and stay on top of. Book III: Getting the Staff Unless you’re intending to run your business all by yourself, you need to master the essentials of recruiting and retaining staff, and employing them safely and legally. This book tackles the ‘people management’ section of business, regardless of whether you employ one or 100 members of staff. Book IV: How Not to Cook the Books Tax, financial records, profit and loss, and balance sheets.
You have to be careful because if you’re a sole trader and you do most of your work for just one client, HMRC may not accept that you’re self-employed. It may decide that you’re an employee of that client. Talk your situation through with HMRC if you’re in any doubt. Someone who is genuinely self-employed works under a contract for service rather than a contract of employment. You’re contracted to provide services. For more on how the tax office views self-employed people, see the section ‘Minding the money matters,’ later in this chapter.
You can talk to a solicitor or an accountant about the legal form your business should take, but an adviser at Business Link is also able to help. uk. uk). Working as a sole trader Are you going to go it alone? You can establish yourself as a sole trader very easily. You don’t have to fill out a lot of forms, and you’ve got only yourself to answer to. Most people who work on a freelance basis are sole traders, doing what they know best for a range of clients, as and when those clients need their services – say, a photographer who wants to work for himself rather than an employer.