Monday, May 17, 2010

I have just started a private limited company to begin trading in a few months, what do I legally need to do? -

trading what? beaver pelts? wampum?

If you ve registered the company at Companies House then you should have completed that part of the legalities. From your other question it seems as if you ve set up a business bank account, which you must have because a limited company is a separate legal entity.The other legal thing you need to do is register with Inland Revenue within 3 months of starting trading. Visit their site for lots of information, including registering for VAT if your turnover is likely to exceed ��68k in a year or voluntary registration if you buy a lot of things that you pay VAT on.For more industry specific legal requirements, speak to your local Business Link. They re a great free source of help and information on starting in business.Good luck!

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