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Manuel Said:

can anyone give me some steps to follow to becoming your own boss?

We Answered:

Yes - definitely get a good accountancy firm on board at the start. They will be invaluable in helping with all the legalities of starting the business - company registration, tax registration etc. An insurance broker will advise about the policies you will need.

After that you don't need any formal qualifications to run a business just be prepared for a lot of hard work!

Good luck.

Ivan Said:

Will personal indemnity insurance protect me from losing my personal assets?

We Answered:

I am assuming you are in the UK here.

Should a purchaser have a problem with your service they will raise the issue with you at some point.

If any dispute cannot be resolved, the onus will be on your purchaser to proove in some way that you have been negligent in carrying out your services or professional duty.

Ultimately this will result in you being sued for the loss or damage - this would be against the Ltd company, not yourself.

It is highly unlikely you will be personally sued, unless by someone like the HSE, if someon has died.

Personal Indmenity (or Liability) Insurance will provide limited protection - ie. There will be exclusions in the policy regarding deliberate acts etc.

I suggest you speak to an Insurance Broker - as you need specific advice for your type of company.

Depending on your circumstances, various policies may or may not be recommended.