Starting a business from home is a great way to avoid having to rent an office or other premises.
Question- Jean Bridge, UK:
Where is the best place to find information on starting up a small business from home? I would like to know about tax implications, marketing, and anything I should look out for. Thank you.
Answer - George Derbyshire, chief executive of the National Federation of Enterprise Agencies:
Much will depend on the type of business you are starting. However, in general terms, the areas you will need to address when you work from home are as follows.
The most important thing is to decide whether you are forming a limited company, or whether you will run your new business on a self-employed basis.
You are allowed to be employed in your day job and self-employed in your new business at home at the same time.
The only legal requirement is to declare your intention to the local HM Revenue & Customs (HMRC) office.
It is easy to register as self-employed. You can go online at HMRC’s website and it is all fully explained.
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