Setting up a website

[Joanne7]

Hi Everbody :)

I am new to the forum and needing a bit of advice from fellow crafters :)

I have been making jewellery for a couple of years now, and have a lot interest in my work. I'm still at uni but I would like to set up my own company once I graduate, however I was wanting to make a head start on it now. My boyfriend is a dab hand with web design so he was going to build me a website to sell some of my pieces. Does anyone know if I need to be a registered company before trading online?

Any info on this would be much appreciated!

Thanks!

[beadsbydesign]

If you sell any of your jewellery including to family and friends you need to be registered as self employed with the Inland Revenue.
Don't worry, it's not as frightening as it sounds. A simple phone call is all that's needed to register yourself. You need to keep financial records of all your business related income and out goings (receipts etc.) you have over £5000+ before you'd need to pay tax, but you will have to fill out a tax return.

[candles by lisa]

Hi Joanne7,

Not very up on the current legislation however I do know that if you are selling anything whether it be online or wherever you need to register for tax within 3 months of setting up or you will get hit with penalties. You could check it out with the IR - they are quite helpful surprisingly.

Cheers.

Lisa

:D

[incywincy]

You will need to register your business. check out this website ... http://www.businesslink.gov.uk/bdotg/action/home?domain=www.businesslink.gov.uk&target=http://www.businesslink.gov.uk/

There will also be some threads in the 'craft business' section that might be useful to you

not sure what you will need to do being a student? but if you phone up the business link they are very helpful and will go through all details.
hth?

[incywincy]

Sorry, forgot to say (welcome) to the forum : )

[Joanne7]

Hi everyone!

Thanks for the quick replies :)

See I was kinda apprehensive about setting up my company right now as I'm going into my final year in september and from what I understand the tax returns etc are due on the 31st Jan which is when I'm sitting my finals! Do you think I'd be as well waiting til I graduate? I just didn't want to leave it all til the last minute etc! I went and spoke to the business gateway folk on saturday but they said they couldn't speak to me cos I am a student :( lol so I was wondering if anyone was in the same position. I just don't want to get into trouble, just things are a little complicated atmo to set it up on a full time basis! lol

I really appreciate your feedback :)

x

[beadsbydesign]

Tax returns are actually sent out in April. You would receive one in April 2008. (it's not too hard to fill in.) If you return it to them by sept 30th they will work out your tax for you. (unless you are mega mega sucessful it's unlikely that you'd have to pay any tax) The 30th Jan cut off date is the time by which you need to pay any tax owed to them.
So if you started in January 2008 trading. You'd need to fill out the TR provided April 2008 by January 2009.
Why not call the IR and ask their advice. They often run free advice days too.

[janetdc]

Hi, Welcome to the forum. I used to work as a freelance publisher's sales rep and was registered as a sole trader. You do not necessarily have to run your tax year from April to April. My first trading year actually ran for eighteen months thanks to the advice of a good accountant. Take some advice, it will be easier to organise than you think. Good luck with the studying and the business.
:D