Ask HN: Good resources on the Business / Legal side of a UK Startup | Hacker News Reader

Ask HN: Good resources on the Business / Legal side of a UK Startup

4 pointsJohnLBevan5 comments

Having read a number of articles on how start ups come about I've decided to knock up some code and get something on line soon. I have a few big ideas, but reading these articles has suggested to me it's best to start with something simple and quick, learn a few lessons from that, and then pursue my real ambitions. However, I'm anxious about one thing - once I start making money from a site, do I become a business / do I have to contact someone to request a self assessment tax form (even if I only make a couple of pounds from the venture) / what are my legal responsibilities?

I'm guessing there are lots of people in my situation all over the world, and each country will have its own rules and regulations around this sort of thing. I'm based in the UK, so am particularly interested in the rules there, but if you know of good resources for other countries, please post those also, as there's bound to be a few others in my position dotted around the globe who can benefit.

Thanks in advance,

JB

The HMRC is a decent starting place http://www.hmrc.gov.uk/startingup/, you may also find http://www.businesslink.gov.uk useful. In addition you should check with an accountant (perhaps someone you know).

Those are great links - thanks for the info :) I'm thinking of looking into accountants after I start to make money; up 'til then I'll just keep records, since I'm assuming that I won't be making enough to cover the costs of accountants for a long time during my experimental phase. Thanks again, JB

Another good thing to know would be any UK bank recommendations, e.g. with a normal website and statements that aren't PDFs and go back to day one. (Amazing in this day that bank websites won't provide a full history to the account holder!)

There's no BankSimple in the UK, but some decent options would be welcome. Heard good things about FirstDirect, but I don't think they do business accounts.

Hmm, looks like a gap in the market. . . though I guess banks wouldn't be too willing to provide an API to third parties who'd offer this service, so it would require a bank to fill this gap, rather than an independent.

Big gap if you ask me, because a clean UI would be a desirable and obvious differentiator in what mostly looks like a commodity market.

Yeah, an API would be huge but I think we're a long way from that. Retail banking in 2011==Mobile telephony in 2005.

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