Please help with registration Watch

Anonymous #1
#1
Report Thread starter 1 week ago
#1
So I'm going to register a business to HMRC. More than not i'll work from home.

I am employing someone overseas's who is going to work from overseas. I live in England.

Do I set it up as a limited company? It's not really a sole trader or a partnership.

What about the tax band? Which one do I pick?

Thank you very much.
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BurstingBubbles
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#2
Report 6 days ago
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(Original post by Anonymous)
So I'm going to register a business to HMRC. More than not i'll work from home.

I am employing someone overseas's who is going to work from overseas. I live in England.

Do I set it up as a limited company? It's not really a sole trader or a partnership.

What about the tax band? Which one do I pick?

Thank you very much.
I've moved this to the Money and Finance section for you, in terms of tax
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Paracosm
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Report 6 days ago
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Hello there,

First of all, congratulations on deciding that you are going to start your own company. It can be a daunting process and I strongly recommend you seek advice from professionals before going ahead if you have any doubts or queries with regards to tax structure and other such legalities associated with the process.

Nobody here on TSR is going to be able to provide you with legal or financial advice which relates to the formation of a company as such advice could be incorrect or may not actually be the best thing for you to do. The implications of following potentially inaccurate advice when forming a company could be catastrophic for you financially in the long term. There are many pitfalls and advantages to each different pathway when it comes to formation and it's important to sit down with a qualified advisor and seek advice as to what would be the best option for you.

From the limited information you've given, I'm not even really able to give you a gentle push in the right direction. Will you be the sole director? Will the person employed overseas be based within the EU or exterior to the EU? With regards to you... are you currently employed? How will you be paying your employee overseas and how will you ensure that it is appropriately taxed in their country? What sort of business is it? What's your projected cashflow? How much do you plan to earn yourself?

Best wishes
Last edited by Paracosm; 6 days ago
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