Quick Q re Trading/Non Trading Budinesses

[Donkey Boy]

Just a quick question regarding a small business I currently operate. It's only small at the mo and turns over very little. We've been trading since August last year but haven registered yet. I want to register it now and set everything up properly but want to show that we've been trading since August 12. I will be set up as a sole trader and appreciate I need to pay national insurance on what I've earned for the past few months.

So my question is providing i suplly copies of my books etc Is it possible to register a company and back date the incorporation date?

 

[Feed-The-Goat]

You would be able to provide some sort of records from last year wouldn't you?

 

[Donkey Boy]

You would be able to provide some sort of records from last year wouldn't you?

Yes, I've got copies of last years accounts.

 

[Feed-The-Goat]

You would be able to provide some sort of records from last year wouldn't you?

Yes, I've got copies of last years accounts.

You should be able to provide them as proof.

 

[Skip Donoghue]

Just a quick question regarding a small business I currently operate. It's only small at the mo and turns over very little. We've been trading since August last year but haven registered yet. I want to register it now and set everything up properly but want to show that we've been trading since August 12. I will be set up as a sole trader and appreciate I need to pay national insurance on what I've earned for the past few months.

So my question is providing i suplly copies of my books etc Is it possible to register a company and back date the incorporation date?

You shouldn't have any problems, your year start will be August 2012 and your year end July 2013
As long as you have kept accounts (incoming and outgoing) you shouldn't have an issue, for real advice speak to an accountant or the tax office (who can be quite helpful)

 

[Prestwich_Blue]

If you're a sole trader and plan to stay that way then you don't need to incorporate the company. You should tell HMRC however and should have told them at the time or soon after you started trading. As has been said, they can be quite helpful.