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Original poster

Is anyone out there a Financial Advisor?

20 replies

lurkylou · 15/07/2007 18:50

I want to set up an internet business and at the moment I'm not in the UK.

Does anyone know where I can get advice about such a set up? I've been on the government Business Link website but can't find anything to do with internet businesses.

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Original poster
lurkylou · 15/07/2007 22:46

anyone?

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supertrouper · 15/07/2007 22:48

What advice do you need? Am not a FA but know a bit about setting up a business with a website.

Original poster
lurkylou · 15/07/2007 23:04

Great!

Do you need a UK address and set everything up the same way as a normal business?

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supertrouper · 16/07/2007 08:35

Check the companies house website or call them re the UK address. Imagine you would need one if you want to register with them. They are the best people to ask tho.

We used a company formation agent, didn't cost very much. Business link were not much help, and stopped our meetings halfway thru setting up our business as there was no more funding available. In fact the marketing advice they gave us by a so called marketing consultant was crap.

Have you got a company designing your website?

Original poster
lurkylou · 16/07/2007 11:56

Supertrouper you say "We used a company formation agent, didn't cost very much" how much is not very much??

Still researching website designers - can you reccommend one??

Thanks for your help

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supertrouper · 16/07/2007 14:54

Don't have the invoice to hand as its all with the accountant at the mo, but from memory was about £70 ish?

We used a co called Freestart plc, but didn't like any of their template web designs so created our own with them. They were ok. Might be best to get one near to where you live then you could meet up with them as we found this easier than trying to describe what we needed by phone/ email.

Original poster
lurkylou · 16/07/2007 18:00

Great - £70 would be in budget!!!

Thanks

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Original poster
lurkylou · 17/07/2007 19:14

Have checked out Freestart supertrooper- appears to be website design only. Must have misunderstood your post - I thought they gave you company set up info too?

Need advice about setting up business in UK but operating in Europe - can anyone point me in the right direction??

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Original poster
lurkylou · 18/07/2007 07:13

Need advice about setting up business in UK but operating in Europe - can anyone point me in the right direction??

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Original poster
lurkylou · 18/07/2007 18:19

I suppose 7.13 am was too early to get a reply on this!!

Any advice welcome!!

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Ladymuck · 18/07/2007 18:27

Can you be a bit more specific about the business as I'm not sure what an "internet business" would be. Possibilities would include selling goods online, selling some sort of service online, or hosting a website where your income is generated by advertising say.

If you can be a bit more specific about the business model then you may get more assistance in the sort of thing that you need to consider in terms of structure. Company formation agents will set up a limited company but you need to decide whether a UK limited company is the best struture for your business in the first place.

Ladymuck · 18/07/2007 18:28

Oh, and when you say "operating in", again can you be a bit more specific? What operations will be carried on in Europe and where will the staff be located?

escape · 18/07/2007 18:32

depends on your business
Dh business is 'regulated' so he has to notify each appropriate regulator in each worldwide territory to conduct business there.
Can you register asa sole trader - if so, as long as you are registerde for tax etc, usually, thats all you have to do.
What country are you in?
why do you need to be a UK registered business?

Pan · 18/07/2007 18:40

BigGitDad was daft enough to let slip he is a IFA........

Ladymuck · 18/07/2007 19:33

An IFA isn't what you need here though.

Original poster
lurkylou · 18/07/2007 23:03

thanks all.

Business will be letting holiday property around europe. Mainly UK clients hence it being easier to set up in UK.

You've lost me with the IFA ref.

Need an accountant who is conversant with taking money in one country but expenses being in another EU country.

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escape · 19/07/2007 08:45

An IFA is an independent Financila Advisor

Original poster
lurkylou · 20/07/2007 08:42

Ah should have worked that out!

So basically you're all saying I don't need one. A common and garden accountant will do??

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Ladymuck · 20/07/2007 09:19

Well I'd probably start with your local business link (though tricky if you're not currently in the UK). I don't think that all common or garden accoutnants will be able to handle this as you need to ensure that your busienss structure works from a tax, legal and VAT perspective in each country that you are operating in. An agency is fairly straightforward (effectively you take a commision on each let), but if you are actually buying/longterm renting properties yourself and then subletting them as holiday lets you have to consider quite carefuly what structure you have. I think that £70 might be a bit optimistic for this!

Original poster
lurkylou · 22/07/2007 17:27

thanks Ladymuck.

I see a trip home on the horizon.

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