Hi All
Sorry this is a bit log winded but probably a common enough situation...
I appreciate any help.
Thanks
Background:
I currently work as a PAYE employee in a permanent position for a company.
I design websites in my spare time. So far this has been for people I
know and am usually paid in cash.I want to formalise it a bit.
I want to provide the hosting,
->have a reseller package that I pay an annual fee for.
->I can sell this to customers
I want to provide the domain (.com's etc)
->I will be registering these with an existing registrar company and charging my customer.
This is only a part time business and will probably make less than 10K
per year.
My questions:
1) Should I set up as a limited company or a sole trader.
2) Can a Sole trader operate under a business name other than their own given name if they register the business name.
2) I predict that I will not reach the VAT threshold so:
Do I NOT charge the customer VAT.
If so do I have to tell them that I do not charge VAT.
Does this have to be written on an Invoice.
Some customers will be in the UK+NI and possibly Outside the EU is this different for VAT?
3) My place of business will be my home
How do I calculate my expenses separate form my living costs e.g. light / heat
4) I currently Earn 32K in my job so will I pay tax at the higher rate on all my earnings from the business?
5) Basically what's the best way to do this
Thanks
Sorry this is a bit log winded but probably a common enough situation...
I appreciate any help.
Thanks
Background:
I currently work as a PAYE employee in a permanent position for a company.
I design websites in my spare time. So far this has been for people I
know and am usually paid in cash.I want to formalise it a bit.
I want to provide the hosting,
->have a reseller package that I pay an annual fee for.
->I can sell this to customers
I want to provide the domain (.com's etc)
->I will be registering these with an existing registrar company and charging my customer.
This is only a part time business and will probably make less than 10K
per year.
My questions:
1) Should I set up as a limited company or a sole trader.
2) Can a Sole trader operate under a business name other than their own given name if they register the business name.
2) I predict that I will not reach the VAT threshold so:
Do I NOT charge the customer VAT.
If so do I have to tell them that I do not charge VAT.
Does this have to be written on an Invoice.
Some customers will be in the UK+NI and possibly Outside the EU is this different for VAT?
3) My place of business will be my home
How do I calculate my expenses separate form my living costs e.g. light / heat
4) I currently Earn 32K in my job so will I pay tax at the higher rate on all my earnings from the business?
5) Basically what's the best way to do this
Thanks