Hello and a bit of advise please

[Vast-Vending]

Hello everyone,

My name is Pete and Im from Fleet in hants. Im in the process of starting up my part time business Vast Vending. I just need a bit of advice really if you could all be so kind Im ok with sourcing my my machines etc as Stuart from Mega Vend is being more than helpful on this however I have a few questions and would really value your opinions. Cheers guys

Is setting the company up a Limited company the best thing to do?
I am going to working from home, Do I need to take out liabilty insurance ?
Should I employ an accounting company to manage my books?
Do I need to speak to the local EHO to regiester with them ?

I look forward to speaking to you all soon! thanks for your help and advise in advance and enjoy the sunshine!!!

Cheers

Pete

[Coin Operated Group]

Ltd company is expensive as you must have insurance, you must have accountant and you must return annual returns quite expensive really cost about £1000 per year. You cant get credit easily to start and you need to go personal guarantor for any loans or overdraft.

I would advise on liability insurance, its not necessary if sole trader but it means if you get sued you lose the house!! about 150 for insurance, worth the money.

Dont worry about accountants to start with just keep a cash book and records of everything I believe you can submit your own returns if your sole trader? not if your ltd.

Also if you register for vat then register on flat rate scheme, but its only worth doing if your buying a lot of machines etc at once over £2000 in one go I think last check again vat returns are simple enough to do yourself. You dont need to register for vat when you hit £68,000 (approx!!!!)

As for the EHO its only really if your storing/packing food on your premises, I did enquire a while back but never bothered.

The biggest hurdle you will have is getting machines out, getting them pinched and moaning customers!!!