Registering Limited Company

chouglez

chouglez

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My friend has recently been trained to create silver jewellery like this and will be creating them to sell commercially.

Does she need to register for a limited company with Companies House? :thinking: She may have both cash and cheque transactions.
 
There's lots of useful information in the 'Business' section of the forum :D
 
Many thanks for all your advice and suggestions. :thumbs:

Just to clarify, she would be keeping her regular job [Taxpayers have to rescue the banks afterall :D]

Will she still need to register as a sole trader? :thinking:
 
Yes. She has to register as self employed (within 3 months or she may face a £100 fine). When it comes to tax return time she files a self-assessment for tax and they work out how much national insurance you pay as well, though if you're profit is lower than a set limit (around 5k I believe) then she can either claim it back (I think) or apply for exemption on the grounds of low earnings.

Edit: All covered in the link Galaxy posted up :thumbs:
 
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