It’s simple to start a business from home and growing numbers of people are doing it.
There are 2.9m home-based businesses in the UK and they contribute £300 billion to the economy. As part of its long-term economic plan to back businesses, the government has made it even easier to start a business from home.
The Home Business Guide explains the process of setting up a business from home and dispels common myths. It covers business essentials like rates, insurance and health and safety considerations. Here are some ideas you need think about when starting a home based business:-
- You will also need to consider whether planning permission is required to run a business from home. The local planning authority will determine this on the individual merits of a case.
- Check if your home business will be subject to business rates. Generally, you shouldn’t have to pay business rates for minor business use of the home.
- The Health and Safety Executive’s home working guide will help you to check that your home business meets health and safety requirements.
- Home business must still decide on the legal structure of your business. Sole traders, business partnerships and individual partners must register for self-assessment with HM Revenue and Customs (HMRC).Private limited companies and Limited Liability Partnership (LLPs) must register with Companies House.
- You should let your landlord know that you are planning to run a business from home and get their consent before doing so. The government has confirmed that social tenants are able to start and run a business from home.
- If you own a leasehold property you should check your lease for any restrictions.
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Loosley taken from: http://www.greatbusiness.gov.uk/where-to-get-start-up-advice/