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Legal Merchant Account

brundoo · 2014-12-08 22:31:52

Hi there, could anyone advise me please? I am full time employed and want to start selling software to small businesses. Am I have to set up a business (meaning business name, register for VAT, etc.)? Or is there any limit of overturn when I don't have to? How can be this legally set up? Many thanks!

08-12-2014 10:31pm

#1

brundoo

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Join Date: July 2011

Posts: 0

Hi there, could anyone advise me please? I am full time employed and want to start selling software to small businesses. Am I have to set up a business (meaning business name, register for VAT, etc.)? Or is there any limit of overturn when I don't have to? How can be this legally set up? Many thanks!

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Comments

#2 08-12-2014 10:39pm

jimmii

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Posts: 14604

Depends on turnover and whether or not you intend to trade under your own name. If you are going to trade under your own true name you don't need to register it and for VAT the threshold is dependent on the nature of your business (service or goods). You'll have to file a tax return with the additional income and pay tax in that obviously!

Did you have a question about merchant accounts or did you find it out and not change the thread title!

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