Starting a business

[golf-sib]

I know some of you on here have business's and I been thinking for a while to start a business with my nephew. How ever I am somewhat clueless to the whole idea.

We have a rough plan and we already have a business name idea's. The idea of the business is to do it in our spare time as we both have full time jobs but during our jobs we both have free time and obviously are willing to have our free time consumed outside work as well. We've had some interest already and some work requested. My query's are:

How do I go about registering the name and checking availability?
I can't be a sole trader as there's two of us working, so what are the other options/recommendations?
How would taxing work out with current jobs in place?
Whats the best way of writing up a contract and negotiating terms with clients?

Basically the company is to do with website development and other web media. Any general advice is also appreciated, as its very early stages of thought. I am registered on business link and have had a small read, plus I've started reading "starting a business for dummies". The risk of business is low as its in our own  time and startup costs are 0. He is a full time web designer himself.

[Mr Blue]

Cash in hand ftw 

[golf-sib]

Cash in hand ftw 

I wish, its a case of if we are paid by another company and HM revenue see their books and see us, its not worth it in my eyes as you will probably get more for tax evasion then rape 

[Jay]

First check that your current employer has put nothing in the contract about having a second job  

[golf-sib]

First check that your current employer has put nothing in the contract about having a second job  

Checked that on my side, I'm clear to go. Will have to check his though.

[jv]

HMRC website has muchos help.

PAYE in your current jobs? Can still be self employed for other work. Tax carries on as is for your current job. Class2 NIC for your self employed stuff, income tax to be paid later via self assessment.

Registering a name is of no relevance if you are self employed.

Loads of stuff to help, local business link etc

[golf-sib]

HMRC website has muchos help.

PAYE in your current jobs? Can still be self employed for other work. Tax carries on as is for your current job. Class2 NIC for your self employed stuff, income tax to be paid later via self assessment.

Registering a name is of no relevance if you are self employed.

Loads of stuff to help, local business link etc

Is there any local free advice centres regarding business as a long call or a face to face meet with an advisor would be brilliant?

Would it still be classed as self employed if it was a company and two of you where working together.

Then there's a question of when do I look at bank account for the business.

To vat register or not?

Finding a good accountant?

Millions of questions and I'm finding small amounts of answers at the moment, I do realize I need to thoroughly research it more.

[jv]

It's all out there for you, do some reading http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1073858805&furlname=startingup&furlparam=startingup

http://www.hmrc.gov.uk/startingup/index.htm

You don't need a business bank account, though with two of you it's probably easier.

You don't need to be vat registered.

There is so much out there to read!

http://www.events.businesslink.gov.uk/

[The Mighty Elvi]

http://www.smallbusiness.co.uk/

A good website for information.

Go to Companies House and check that your company name is available.

http://wck2.companieshouse.gov.uk/b7e1db21e4c5abe4aeb43ad17bf24118/wcframe?name=accessCompanyInfo


If you don't want to get a Limited Company you can become a Partnership.

[JulesS3]

A lot of people doing website creation at the moment, i looked at it and the market is saturated with companies doing this, free web templates (that just keep getting better) and everyone ripping off everyone else's code for quick money. I did it for a while for friends and made a bit of money but i found it just wasnt worth the time i was investing.

Good luck with it though, if you get it right and do well there is a lot of money in it.