setting up business from home

G

gal!

Guest
i'm currently in full time employment but i've just qualified as an accupuncturist and plan to set aside a room in my home for treatments.
i have no idea how to go about registering, or what the tax implications are for me? ( just spent the last hour trying to get through to local tax office so hence the question)
 
The first decision you must make is whether you want to trade as a Limited Company or as a sole trader.

If it is going to be relatively small to begin with you should possibly register a business name and trade as a sole trader.
 
This summary guide might be of interest to you in relation to limited company versus sole trader:

[FONT=Arial, Arial, Helvetica]A Guide for New Business Start-ups

[/FONT]You should probably spend some time researching the options and implications and maybe get professional advice (e.g. from your local enterprise board etc.).

has a lot of useful info.

Running a business from your home may have tax implications for your home (e.g. loss or reduction of CGT exemption on any eventual resale gain etc.). Your lender may need to be informed and you could need alternative/additional insurance cover.
 
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