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Starting Business As Affiliate In UK

Discussion in 'Business & Tax Advice' started by coxi999, Aug 1, 2012.

  1. coxi999

    coxi999 Junior Member

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    Hi all


    I'm based in the UK and have been making some cash online as an affiliate marketer, what would be the best option for me starting a business? I would like a company name and the ability to do my own accounts. I need to get setup ASAP as i am already making money and would like it all to be above board. I have tried to research this but just keep going round in circles on www.businesslink.gov.uk


    Thanks.
     
  2. ardvark

    ardvark Regular Member

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    Can you not just start as a sole trader or do you really want the company name?
    I became self employed around 5 years ago because i started to earn decent money, and the same as you, wanted to be honest with tax issues etc..
    I just rang the tax office, and stated i wanted to become self employed and that was it :)
     
  3. Duffers5000

    Duffers5000 Elite Member

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    I have set up (and closed down !) Companies in the UK.

    This company provide the best company formation packages http://www.eacbs.com/

    I'm not an affiliate, just a businessman. Have a read through there packages. You will be best using your own bank if you can. Use there registered address for company formations etc.. Don't go near vat registration until you are earning big and need to be vat regd to deal with bigger companies. It's easy enough to close down a registered company if it's not going the way you want, a vat regd company is a bigger deal

    Good luck
     
  4. Waddup

    Waddup Junior Member

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    Not sure if this helps (Based in The Netherlands).

    First of all I recommend contacting several accountants and find the perfect fit for your business. Pretty sure you will find a great one for around 80 pounds per month.

    He/she will be able to help you a lot better then the information you will find on websites. Ask for a free introduction meeting/appointment and just see what they come up with.

    Even if your just using him/her for a year you will learn the tax ropes yourself pretty quick.

    I'm paying around 2k a year myself and everything is outsourced. I basically provide my guy with bank transactions, VAT, etc etc and he does the rest. Over the years I learned about everything there is to know to do it myself but I prefer it this way.

    My guy is pretty young and came up with a lot of nice little legal tricks to save me a bunch of green.
     
    • Thanks Thanks x 1
  5. coxi999

    coxi999 Junior Member

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    Thanks for all the replys
     
  6. t0.sh

    t0.sh Registered Member

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    You could always start off as a sole trader then move on to creating a Ltd company when you're ready. If you're making over £77,000 in a 12 month period you need to be paying VAT whether you're a sole trader or not. You can do this voluntarily if you're unsure about whether you'll hit that threshold or when you hit that threshold, it's you to you. You'll need to get a business bank account if you're creating an Ltd or are serious about becoming a sole trader. You can either file for Ltd company status direct and companieshouse (I believe it's around £20) or you can hire a company that specializes in company formations, those will most likely cost a small sum though. You should hire an accountant if you can afford it, if not it's best to learn basic accounting so you can do it yourself.

    I think that about covers the basics, if you need any help with starting your business just PM me. :)