Starting up as a sole trader

[FruitCider]

Morning! I'm just in the process of setting up my own business, and I was wondering if someone could help me with a few questions I've got?

How do I apply for exemption on class 2 ni contributions (I will be in full time employment initially)

I need to undertake some training in order to run the business, which is quite expensive. Can I register the business first then off set the cost of the training against tax/ni calculation?

Is there anywhere online that breaks down allowable expenses?

Where is the best place to get a portable chip and pin machine from?

If I need to pay someone to do part of the work in the business for me, are they classed as a contractor? If so do I need to ensure they pay tax/ni?

Thanks!

Hi, hopefully I can help!

NI exemption - ring hmrc NI helpline to apply.

Training- if this is a new skill you are learning you cannot claim it as an expense. If it is to further expand on an existing qualification or skill then yes you can.

There is no full break down of allowable expenses as it varies from business to business. Basically anything that is used wholly for business use is allowed. Hmrc do have some very good guides on their website.

Chip and pin - I have a PayPal Now and also an IZettle. Both are very good and pay as you go. No on going fees or subscription.

Someone else doing work - tricky area. Depends whether they are only allowed to work for you at the time or not amongst other things. You have to be careful not to stray into employee territory and there is a very fine line. Speak to Acas for advice.

Thanks for the reply! I'm a nurse training in botox. I'm not a prescriber but my friend is a pharmacist, and whilst she has no interest in administering botox herself she is willing to go on a prescribing course in order to prescribe for me, on a ad hoc basis. I can't imagine needing her for more than 4 hours a month. She would be paid per consultation and the rate per consultation far exceeds minimum wage (it works out to around £50 an hour). She will do the consultations and invoice me for them. So I'm sure this falls into contractor territory and not employee, so I'll check. Offsetting the training for tax purposes may not be possible, which is a pitty as it's £1200! Oh well. Thanks for your help! X