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Jeremy Aldermartin
Jeremy Aldermartin, Solicitor
Category: Law
Satisfied Customers: 9626
Experience:  Dual qualified Solicitor and Attorney
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I am looking to get advice on registering a self employment

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Hello, I am looking to get advice on registering a self employment business. The caveat is that I am currently employed elsewhere. I have no intention of leaving my job. So I was wondering if the process of registration and/or carrying out business would be different in my situation. That includes being taxed and stuff like that.
JA: Where are you? It matters because laws vary by location.
Customer: UK, Oxfordshire
JA: What steps have you taken so far?
Customer: None
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: no
Hello,

I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.

I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.

Thank you!

Hi thank you for your message, please note that I will look to provide an accurate but nevertheless speedy reply to your inquiry. I will endeavour to help you today.

No there is no issue with this you would register the company with companies house: https://www.gov.uk/limited-company-formation

For tax purposes you would file company accounts and then also personal accounts these would just contain income from your business i.e. salary and dividends, Your employed income would continue PAYE. I trust this assists

Customer: replied 14 days ago.
Ok I see, my business will be classified as an online business. My supplier will also fulfill my orders and ship them to the customer. The supplier will make profit on the sale also which will be subject to VAT. So the break down of the price of the product will be as follows: Price = (supplier: price+VAT+delivery) + (me:markup). So I am assuming I have to pay tax for markup as well? Or not since VAT has already been paid? Also, do I pay sales tax for the "price" value I have referred to?

You would not pay a sales tax we do not have a sales tax in the UK except VAT and VAT would not be due twice the VAT would be paid by the supplier on the total cost to the customer including your share. I trust this assists

Customer: replied 13 days ago.
what you are saying is that I would not have to pay VAT? I am confused as the arrangement with the supplier is that they will pay me once every month with the amount equal to (mark up*number of items sold). So essentially I would not be receiving the money for the item itself, the supplier will. Then they will pay me my cut. In that case I don't need to pay VAT?
Customer: replied 13 days ago.
The supplier is not based in UK by the way. Also they manufacture the products themselves.

Yes you would not need to pay VAT. I trust this assists

Jeremy Aldermartin, Solicitor
Category: Law
Satisfied Customers: 9626
Experience: Dual qualified Solicitor and Attorney
Jeremy Aldermartin and other Law Specialists are ready to help you