Invest NI No Nonsense Guide 11 (PDF) - Invest Northern Ireland

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Thinkingof startinga business?Need help withrules, regulationsand forms?If you’re thinking of starting a business — orif you already run one — The No-NonsenseGuide saves you time, stress and money.It tells you what you need to know aboutthe legal and official side of starting up abusiness. It also explains the regulationsthat affect growing businesses — fromgetting new premises to employing people.The Guide is brought to you by InvestNorthern Ireland, the Government’seconomic development agency. Theinformation it contains has beensourced with the full co-operation andagreement of a range of Governmentdepartments and agencies.Invest NI and its enterprise partners canprovide you with a wealth of informationand support services, including a guideto general business advice — the Start aBusiness guide.If you are thinking of starting a business,contact the Go for it Helpline on 0800027 0639 or www.goforitni.com. If youare already in business and want to grow,contact Invest NI on 028 9069 8000or www.investni.com.This guide sets out the main regulations that apply when youstart up in business, and how to comply with them. It is notcomprehensive or a substitute for independent, legal or otherexpert advice. Every reasonable effort has been made toensure that the information in this booklet is accurate, but noresponsibility can be accepted for any errors or omissions.This guidance is issued to provide users with general background,and is not intended to be, nor should it be considered asamounting to, legal advice which is capable of being relied upon.Users should seek their own independent legal advice whererequired.If you require this brochure in an alternative format (includingBraille, disk, audio cassette or in minority languages to meet theneeds of those whose first language is not English) then pleasecontact:Invest NI’s Equality TeamT : 028 9069 8273Textphone: 028 9069 8585E : equality@investni.comProvided by Invest Northern Ireland and part financed by theEuropean Regional Development Fund under the EuropeanSustainable Competitiveness Programme for Northern Ireland.© Crown Copyright 2012.
ContentsForming a business 4Sole trader 4Partnership 4Limited liability partnership 4Limited company 5Choosing the right name 8Franchises, social enterprises,co-operatives and charities 9Sorting out yourtax andNational Insurance 10Your employment status 10Employed or self-employed? 10Tax and National Insurancefor the self-employed 11Tax for a limited company 12Calculating business expenses 13Allowances forequipment and premises 15How Capital Gains Tax works 15The tax return for individuals 16The tax return for companies 17Working out tax and NI foremployees 17Paying employees’ tax and NIto HM Revenue & Customs 18Statement of employee's pay,tax and National Insurance 19Employees’ pay records atend of tax year 20Tax forms when an employeeleaves or dies 21Business vehicles and tax 21Special tax rules for theconstruction industry 22Your business rates 23What VAT will meanfor you 24What is VAT? 24What VAT rate will I have tocharge? 24Keeping VAT records 25Accounting methods for VAT 25VAT on imports 27VAT on exports 28VAT on business vehicles 29Premises and healthand safety 30Planning consent forbusinesses 30Using your home as yourworkplace 30Fire protection 31Ensuring easy access fordisabled people 32Managing and transportingwaste and packaging 33Other environmental concerns33Health and safety essentials 35Minimum workplacestandards 35Carrying out a riskassessment 36Registering your business 36Insuring your employees 37Informing your staff abouthealth and safety 37Protecting your employees 38Computers and employees 39Reporting incidents 39Protecting yourintellectual property 40Business names and domainnames 40Protecting your trade marks 40Patents and their benefits 41Understanding copyright 43Registered design anddesign right 44Intellectual property protectionoverseas 44Software copyright andlicences 45Is your businessin a specialisedsector? 46Food businesses 46Entertainment and leisure 46Health and care services 46Transport businesses 47…and many other specialcases 47The No-Nonsense Guide
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Useful contactsNow you have reached
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Useful contactsVenture Capital Asso
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