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SV650.org - SV650 & Gladius 650 Forum (http://forums.sv650.org/index.php)

- Idle Banter (http://forums.sv650.org/forumdisplay.php?f=116)

- - Starting a business (http://forums.sv650.org/showthread.php?t=124563)

ArtyLady

27-01-09 05:40 PM

Re: Starting a business

Quote:

Originally Posted by Ed (Post 1762393)

Absolutely - unless you've given personal guarantees. It's more red tape but this red tape is worth it I think. As soon as you register a company you will get forms from the Inland revenue - including a P35 - don't bin it, it's a return of employees - you must return it to the IR even if it's a nil return as else it's a £100 fine for each month of default.

Are you saying my public liability insurance is not worth having?

Ed	27-01-09 08:41 PM

Re: Starting a business

Quote:

Originally Posted by ArtyLady (Post 1762399)

Are you saying my public liability insurance is not worth having?

:confused:

Where did I suggest this? Of course not. Sorry AL but I'm puzzled.

embee

27-01-09 08:46 PM

Re: Starting a business

You really need some level of public liability insurance just so that if you happen to poke someone in the eye or drop a steam iron on their dog while doing your job, you're insured. My public liability to cover me while working on another company site or office costs around £60 p.a., which of course is deductable as a business expense.

Professional indemnity is what covers you for someone's loss or damages as a result of you doing your job "responsibly", so if you design something using all reasonable methodology but it subsequently fails and someone suffers as a result, you can have some degree of cover, each case is different and you need to discuss it with a good business insurance broker.

If you employ anyone you must have employers liability.

ArtyLady

27-01-09 09:38 PM

Re: Starting a business

Quote:

Originally Posted by Ed (Post 1762641)

:confused:

Where did I suggest this? Of course not. Sorry AL but I'm puzzled.

Sorry Ed if I puzzled you - its just that you agreed with Sudoxe's post, I just took it to mean that you agree that everyone should be Ltd company to avoid being personally liable - but surely that is why one has public liability insurance?

Ed	27-01-09 10:04 PM

Re: Starting a business

Quote:

Originally Posted by ArtyLady (Post 1762757)

You'd still be liable to the public anyway, whether sole trader or limited. Insure is the answer. I was thinking more private debt, like when you buy stuff from a supplier.

ArtyLady

27-01-09 10:14 PM

Re: Starting a business

Quote:

Originally Posted by Ed (Post 1762810)

You'd still be liable to the public anyway, whether sole trader or limited. Insure is the answer. I was thinking more private debt, like when you buy stuff from a supplier.

Ah I see - thanks :cool:

Dangerous Dave

28-01-09 08:13 AM

Re: Starting a business

Thanks for the advice everyone, I am looking to do this in the second half of this year if things go to plan so just brushing up on my homework. I may have to resurrect the thread in the future and pick you brains if I have any more questions.

Ta

DD

Caddy2000

28-01-09 01:02 PM

Re: Starting a business

So is it a SV advisory business? If so, you'll make a fortune! Especially looking at the the amount you dish out on here.

jamesterror

28-01-09 01:13 PM

Re: Starting a business

I'm VAT registered but don't exceed the threashold, as of this financial year I won't, however I still charge it as part of customer reasurance with service.

However its useful to be registered volentarily to claim back on VAT, I use it to claim back on hardware as I am looking to build a stack of servers.

When I started in Nov, I posted on a forum and asked, where do I go from now. I was told to buy a book on UK Business Law and register with Companies House.

The Guru

28-01-09 01:13 PM

Re: Starting a business

Security/CT consultant I would guess

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