Hi, I have decided to create an online shop as i have found quite a good niche and a good company with a trade accounts. I am also i very good at online marketing so thought i would give this a try as i have never done an online shop before. What i was wondering though is though is what will i need in terms of legal and other requirements for the site? I am also based in the UK, so obliviously it will be different to how it is done in other countries. As far as i am aware i will need to register the company and then what? Will i be ok to trade? Also any other advice would be gratefully received. Cheers, Adam
Yes, you'll need to register your company's name before you start. Don't forget to check the laws about taxing items in your country if you do ship locally.
Notify the Inland Revenue you're self employed, VAT if turn over in excess of £56k (i think) etc, etc,,,, the company name doesn't need to be registered through companies house though if you're a sole trader in the Uk. i.e mr d duck trading/as dduckquacktoys.com. Website wise: Terms and conditions page, delivery costs etc need to be clear, privacy policy, contact details. Just really what you would expect to see on a legit website. Think from the eyes of a buyer if you can - is it clear info etc
Thank you for your replies. As i will still have full time job will i need to do anything different than above? If this would make things worse for myself would i be better registering this in my wife's name who will be helping me out on this as she currently does not work.
Either way if your doing it legit and above board someone will have to register for self assessment. You can be on paye and have a self employed income at the same time I believe. Best speak to a local accountant with regards to that.