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Cost of starting an online Business in Uk?
Hi guys, I have been trying to find out some rules of starting a small online business in the UK but i can't find any source of information. Any one knows what cost I would have to give to the HRM? Any help would be greatly appreciated. thanks
4 Answers
- Anonymous8 years agoFavorite Answer
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- 8 years ago
Assuming that you plan to be a "sole trader" ... you must register with HMRC for
(1) National Insurance (NI) Class 2 contributions
(2) tax which is paid by completing an annual self assessment form
There is no charge to register your business but you will start to pay Class 2 NI and be taxed on your income from your business.
Online businesses are often low cost to start but if you do need a loan then the government is offering Start-Up loans at a competitive low interest rate to 18-30 year old entrepreneurs with good business ideas. They have already provided over 6,500 loans totalling £38M..
- !Lv 78 years ago
Nothing; free to register with HMRC.
Lots of useful info at https://www.gov.uk/browse/business/setting-up
- Anonymous8 years ago
nothing. zip, zilch, nero, nout.
what costs is everything else, domain name, hosting, stationary, stock, advertising