Hints and tips
- Get your tax situation organised. HMRC produces various useful leaflets available either from local offices or their website; use these to plan how much tax you will pay and when.
- If you are setting up a limited company, it is possible to buy existing or 'off-the-shelf' companies via a Company Registration Agent, accountant or solicitor. All the paperwork will have already been prepared and the company can begin trading almost immediately.
- Franchises, co-operatives and non-profit organisations may be set up as sole traders, partnerships and limited companies.
- Ask a business adviser, accountant or solicitor for advice on which form of legal status is most appropriate for your business.
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