If you are starting a business by yourself then, you must inform the HRMC within 3 months of existence. Then, you have to complete an annual self-assesment tax return and pay income tax on your profit. In addition you must pay a fixed rate national insurence contribution (Class 2) and another contribution based on your profits (Class 4).One Thing I May Mention. You will be personally liable for all debts incurred by the business. So you could lose your valuable personal belongings.
if you do not wish to bring an adult relative into the picture NOW,then, start off by calling everything you do a money making HOBBYand not a business. That is so that people will not so quicklywonder about your age. YOU may not sign any contracts orlet people think you are of age.......YOU can t pay taxes yet because you are not old enoughto have/be a business. [unless you go the way of a trust. ]start by writing a biz plan......research your needs, and esp where your customers areget back to me for more help and LET an adult relative know if you do!
what you will want to do Is to incorporate with your state by becoming an LLC LLP S-Corp C-Corp . once you do that You will want to set up a DNB profile so that you will be able to have Credit With your Vendors. And basically keep stongbusinesscredit If you need more info Just Google strongbusinesscredit credit to find resources to help you
Buy a book called Start Your Own Business by Rieva Lesonsky, of Entrepreneur magazine, ISBN 1-932156-65-8. It will answer all your questions, including where to raise funds.
Check the laws of your state. I believe to make an official business you need to be 18, but you can start said entrepreneurship if you want as long as you re resourceful.
