Informing the Inland Revenue about my Business

[eshopmates]

I have been setting my business up for a long while. In this time Ive

Opened a business bank account

Sourced all my suppliers

Opened up a eBay store and created a proper web address


However I have only started selling since the week ending 29.05.05 (last week)

I have been informed you have to inform the inland revenue of setting up a business within three months of starting your business.

Does this mean I have 3 months from when my business is active or 3 months from when I opened the business bank account (which was in April).

Best regards

Scott

[mike.bolton]

Hi Scott

I'd inform them now.

You have started trading recently, and your bank account was set up within the last three months anyway (April).

Remember the three month limit does not mean they will let you have three months of 'free trading' before you become liable for any taxes due!

Good luck with the business

Mike