Register with HM Revenue & Customs
Do it within 3 months of becoming self-employed (call them on 08459 15 45 15 or register online
). Make this your Number 1 priority - if you don't register in time you'll face a fine.
Choose a name for your business
Check out our do's and don'ts of choosing a name for your business
and the restrictions you need to know about.
Open a business bank account
Keep your business account separate from your personal bank account. It'll be much easier to keep track of how much you're selling and how much you're spending. Here's some tips on how to choose a business bank account
Issue invoices correctly
You can make your invoices as simple or sophisticated as you like, but there's some essential information you must include. More information on what you need to include on your invoices here
Have written terms and conditions of business
You can keep this very basic with just a simple description of what you're supplying, the price you're going to charge and what your payment terms are (although you should always try and take payment in advance). If you prefer something more official use these Terms and Conditions to give your customers
and Terms and Conditions to give to your suppliers
from legal document specialist ClickDocs.
Depending on what you're doing some insurances are compulsory. Others are optional but well worth considering. Find out more about when you need business insurance and different types of insurance here
And that’s basically it!
Here's some tricks you can use to look like a 'real business'