City : Enterprise Road : Legal Stuff
What about the legal stuff?
When starting your own business, you need to make sure you know about taxes, company law, and other business matters to make sure you don't run in to any difficulties!
There are lots of different legal requirements depending on what you're business will involve and how it will be run. So going straight to the government and HMRC websites is the best place to find the right information.
Below, we've listed the best places to look for legal advice...
Revenue & Customs (HMRC)
HMRC are the UK’s tax authority.
They are responsible for collecting taxes from individuals and businesses to fund the UK’s public services, and for helping families and individuals with targeted financial support.
They will be able to give advice on your legal status and what that will mean for you.
Companies House is a government run site and service that documents all registered UK companies and their details.
You will have to register with Companies House in order to set up your business - find out more information on the website.
The main functions of Companies House are to incorporate and dissolve (close the business) limited companies, store company information required by law (e.g. annual accounts and ownership details), and to make this information available to the public.
Licensing and Insurance
When setting up business in the UK you may need to apply for a licence, depending on what your business is.
Use the licence finder tool to check if you may need a licence to set up your business.
You may also need to have Public Liability Insurancewhich protects your business against compensation claims against you or your premises.