1. Start-up legal & tax issues

2. Specification Detail

 • Understand the need to establish a unique trading
and business name
 • Understand the need to keep careful records, the
implications of VAT, income tax, National Insurance
and Corporation Tax for the business

3. Read pg. 144
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Afro-Carribean hairstyles

4. Establish a unique trading
and business name

 When starting a business, the rules are to tell inland
revenue (the taxman) and the National Insurance
office.
 You should also make sure that the business you
start has a unique trading or business name.

5. Keep careful records

 Keep a record of what you have paid out for the
business.
 Avoid using cash, it is harder to prove what you
have spent your money on.
 Keep a record of the sales revenue from your
customers.
 Keeping an excel spreadsheet will help you observe
your cash flow. There are several computer
programs that exist to make this easy.
 Budget to pay a person to help monitor your books
from the beginning. This should avoid mistakes.

6. Legal Issues

 You should be mindful of legal issues:
 Employment: Minimum wage, discrimination laws etc.
 Consumer protection: responsibility to sell goods fit for the
purpose they are sold.
 Environmental protection: Dispose of waste properly,
conform to laws on clean air etc.
 If you are not a limited company, you personally could be
held responsible for any problems that occur.

7. 5 Days to Pay : Here
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8. Start-up issues: Here


9. Reggae Reggae Sauce: Here
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