Business Structure

[dylan]

Hello everyone

I am planning to open a website as a business. (something similar to justeat.co.uk but not exactly that) Anyway I want to know the most suitable business structure to register. I will have the 100% ownership of the website and everything related to it. And I will have one person to support me and he will get paid a percentage of the profit. Your views on this matter will be very much appreciated

p.s. I am planning to include this income to support my tier 1 extension and I need everything to be done properly.

[Lucapooka]

For a tier 1 extension, you score points for income; nothing more, nothing less. If you register a business and garner revenue, you can use that to apply for your extension if that income has been through the various treatments laid out in the guidance.

[dylan]

For a tier 1 extension, you score points for income; nothing more, nothing less. If you register a business and garner revenue, you can use that to apply for your extension if that income has been through the various treatments laid out in the guidance.

First of all thank you for your reply. But I do not understand what you are trying to say. As far as I know you can use any legal income as long as you pay tax and NI and if you have documents to prove your income

Anyway my question is regarding business structures. I am little bit confused with different business structures. I just need to know whether I need to register my website as a business. If yes then what is the most suitable business structure to register. (or could I pay tax and NI as self-employed?)

I would be grateful if you could give me some advice on that

[Lucapooka]

You need to register the site as a business. Similarly, if you were trading on the stock market you would have to be registered as a business entity and could not simply be a private individual moving your money around. How and under what capacity you register your busines is beyond the scope of immigration matters so I will have to limit my response to that.

[AccountantMatthew]

Here's a good place to start -

http://www.businesslink.gov.uk/bdotg/ac ... 1073858805

[dylan]

You need to register the site as a business. Similarly, if you were trading on the stock market you would have to be registered as a business entity and could not simply be a private individual moving your money around. How and under what capacity you register your busines is beyond the scope of immigration matters so I will have to limit my response to that.

Thanks for the reply

Does anyone else have any knowledge to share about business structures?