NLIC.org

Debra Said:

What rates do you have to pay on a UK high street cafe?

We Answered:

The Agents should know what the business rates are and you should be liable for small business rate relief. just phone your Council.
You will need to have the gas/electric & water put into your name, so when the lease is signed ask the Landlord who they are with, then phone them.
Phone any local broker online and they will give you a quote for public liability Insurance which you must have. If you are using a deep fat fryer you will need extra cover for that.
Don't forget Environmental Health need to inspect the premises for catering before you open. Why not join the Federation of Small Business's, they will give you all the help you need.
Don't forget you will need a business bank account.

Fred Said:

My friends hair was damaged by a hairdresser(uk) she is distraught- help?

We Answered:

I'm a self-employed stylist in a salon and this is why I pay for liability insurance. Sometimes bad things happen to hair unintentionally but this is why (decent) hairdressers are insured. By accepting a refund she has kind of closed her dispute so it may be too late to take further. Best thing to do would be to speak to the salon owner/manager.

Peter Said:

Why do you save money running a limited liability company?

We Answered:

You pay income tax on your PAYCHECKS but you pay Corporate Tax through the Corporation.

By keeping each 'party' distinct from the other, you, personally, are not liable for a LOT of things that a Corporation is liable for.

If you are not a corporation and the worst happens, you, personally, are liable... But if you are a corporation and a shareholder... Only the corporation is liable.

Joan Said:

is it possible that i can get a public liability cover, from the uk, for my business in spain?

We Answered:

Under EU Law any insurance intermediary that is regulated by their country's regulator (The FSA in the UK) can apply for passport rights to arrange insurance in any other EU Country - otherwise how could Lloyds of London for instance insure property/ liability all over the world?). My firm, for instance has passport rights in Spain so, for instance, we could arrange a travel insurance policy for a client calling us from Spain. (We do not do Liability insurance BTW abroad).
Similarly a lot of the cheap internet motor insurers are based in Gibralter, registered and regulated by the Gibraltese FSA and are passported into the UK.

I would suggest you try a large commercial insurance broker - who probably have branch offices in Spain e.g. Marsh, Aon as a port of first call.

Arnold Said:

I want to start selling my home-baked cakes from home in the UK.?

We Answered:

ok, i`ll have 2 dozen

Marvin Said:

why do you save money running a limited liability company?

We Answered:

As PolitacllyCorrect explained, you do not always save money on tax if you operate your business through limited company (LTD). It is subject to individual's tax position. Some people maybe better off with sole trader and some people with LTD. You need to do a full tax calculation to figure out which one is most tax efficient.

Generally, with LTD companies, you get Capital Allowance on certain assets, other tax reliefs, 28% or 21% corporation tax rate and charged a notional 10% tax on dividend. On top, you also have your tax free personal allowance. Overall, it looks like LTD is more tax efficient but you will never know until you work out your tax liability under sole trader and LTD.

There are also short term and long term non-tax implications and unique advantages/disadvantages of operating as a Sole Trader or LTD. You may need to take these into consideration.