"Getting Started" Guides

It can be very daunting when you decide to start your own business.

You will be confident in your own knowledge and ability to make your business succeed, but many people wonder where to start regarding keeping records, who to contact, paying taxes, etc.

This information is designed to ease your worries by providing you with this essential knowledge.

The Guides

Click on the links below to view each subject on the right hand side.

Once you're under way, you can think about the type of help you may require from us. Please browse through our list of services on the tab above for more information and email us for a quote.

Self-Employed or Employed?

It is a common misconception that your employment/self-employment status is a personal choice, or the choice of your employer. This is not the case. Your employment status depends on key factors of the working relationship between you and your employer.

It is important to get your status correct, as an incorrect status could mean you over- or under-pay Tax and/or National Insurance.

The main factor in determining your employment status relates to whether or not you are responsible for the success / failure of the business. However, there are more considerations:

    Do you do similar work for more than one business?
    Do you decide whether the work is delegated?
    Do you correct erroneous work at your own cost?
    Do you decide what work you undertake and when?
    Do you provide the main equipment required?
    Do you pay the running costs of the business?
    Do you benefit from profits and bear any losses?

If your answers to the above are 'Yes', you are very likely to be self-employed. If your answers are 'No' you should probably be an employee.

However, these are not the only factors to consider. If you are unsure of your status, it is possible to contact HMRC for their decision on the matter.