Register as a business?

[Pimpinpara]

Hi all, I've been reading through this site and thanks to everyone's advice I have decided to go independent I've brought some used machines and stock and am just waiting on some sites. Now do I need to register as a business pay tax etc? I'm going to put some stickers on the machines with my name and number just wondering do you need a business name registered when pitching to sites, does anyone give out invoices to sites when you refill? And general advice would be appreciated.

[Coin Operated Group]

Just make up a name and start, no need to worry about tax for at least a year but have a chat with an accountant regarding best options. Would say sole trader would probably be easiest. Make sure you have some liability insurance in case of any accidents. Invoices always look professional, some sites prefer not to have them some do, just ask when cashing up if they would like a receipt.

Best bet is just to get out there and start finding some sites (not forgetting that insurance!!)

Remember to try multiple machines in sites and not just stick to one type. Sure some of the other guys will give you some more tips.

What types of machines are you looking at siting??? (should of asked first really)

[Pimpinpara]

Thanks, I've got snack a can/tubz vending machines, we're do you get Insurence from?

[Snackmore]

Simply Business are the best/cheapest for Insurance, less than £100 a year.

You only have 3 months to register with HMRC from commencement of a new business otherwise can get fined £100 although if you declare in the same year they dont normally fine you (so my accountant says anyway?)

If you look back through old posts and do a search you will see an example of invoices etc

Where are you based?

[Pimpinpara]

Am based in Essex am just starting up as a part time income, got machines stock locations just need to start bringing some money back in to get more machines brought so I can make a worthwhile income. Just need to get Insurence sorted now

[Ade]

hi yeah register with hmrc as self employed asap, do it online its easy, done my first 2 tax returns myself but gonna need an accountant this year

Ade