Business stuff...
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- kalkal0
Anyone?
- Scotch_Roman0
I started a business this year. I'm a sole proprietorship and an LLC. I had to register my business name as a DBA since Metagramme is obviously not my actual name, and also because I wanted to operate as Metagramme rather than Metagramme LLC.
LLC provides certain legal protections should you get yourself in hot water with clients and/or vendors. It also provides certain kinds of tax breaks that simple self-employment status doesn't offer. Also, if you set up at least one person as an employee, you can write off health insurance.
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Having said that, I just saw that your link is in the UK. I'm in the States, so I have no idea how to go about things in your area. Ask Dancer, he might know a thing or two.
- HomeCreative0
When you say register do you mean for VAT?
- kalkal0
What I was really asking is, should I register as a business or as self employed and are there any real advantages in doing so? Also, if I'm registered as self employed, is it also legal to trade under a name other than my own (no, not a fake name, a "company" name)
- kalkal0
ok, where's dancer?
- Atkinson0
Self employed covers it in the UK as far as I know
- thebottlerocket0
There are many advantages to running your business as a LLC.
Firstly, the LL bit..i.e. Limited Libaility. It privides a seperation of your business with yourself personally, such as a your house, your savings account, etc. This is important as treating you business as a separate entity means that if anything goes wrong, your liability it limited to the company.
VAT registration through a company is also handy and beneficial.
Secondly, as a LLC a decent account will be able to provide good advice on tax minimisation.
But I would really get in touch with an accountant, i can recommend one if you want to email me, and they should be able to give you decent advice.
- Anyway, I would always opt for some sort of LLP or LLC option.thebottlerocket
- kalkal0
Atkinson, you're in the UK as self employed, right? Hows that working out for you, in your creative field at the moment?