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-   -   quick business lesson please :P ? (http://www.drummerworld.com/forums/showthread.php?t=77295)

Nick G. 06-13-2011 11:44 PM

quick business lesson please :P ?
 
so basically, im going to start doing online sessions for people
and im creating a website, i will obviously be charging for this service

so heres the question

do i need to set the website up as a business or can i leave it as a personal site that i could potentially be earning money off ?

Cheers,
Nick

bermuda 06-14-2011 12:45 AM

Re: quick business lesson please :P ?
 
You're not required to have a separate site for business, but there may be reasons you'd want to promote yourself and the online sessions separately. I don't what reasons you might have, but if you do, you'll want a separate site. If it's all just part of you, then keep one site.

Bermuda

Nick G. 06-14-2011 12:55 AM

Re: quick business lesson please :P ?
 
Quote:

Originally Posted by bermuda (Post 854373)
You're not required to have a separate site for business, but there may be reasons you'd want to promote yourself and the online sessions separately. I don't what reasons you might have, but if you do, you'll want a separate site. If it's all just part of you, then keep one site.

Bermuda

yeh its all me pretty much - (going to be called nickgdrums.co.uk)

sorry this is really badly worded :)

what i think i ment was

when i create a website theres usually a section for "business" should i be selecting this?


also, if im going to be making money off of this, should i have it registered as a business? bearing in mind im 18 and still in full time education so i dont pay tax just yet :)


cheers bermuda

RollingStone000 06-14-2011 01:29 AM

Re: quick business lesson please :P ?
 
Regarding the business aspect, you'll probably have to look into the laws that are applicable in Britain, I'm sure you can find some self-employment/business related books. The laws are probably noticeably different from what we have here in the States when it comes to e-commerce.

You might want to take a look at mikelessons.com, as a kind of template for what you may want when you get things rolling.

Also, and this is me being a dick, but proper spelling and punctuation would be a good idea as well. Not sayin' just sayin'.

Nick G. 06-14-2011 01:54 AM

Re: quick business lesson please :P ?
 
Quote:

Originally Posted by RollingStone000 (Post 854382)
Regarding the business aspect, you'll probably have to look into the laws that are applicable in Britain, I'm sure you can find some self-employment/business related books. The laws are probably noticeably different from what we have here in the States when it comes to e-commerce.

You might want to take a look at mikelessons.com, as a kind of template for what you may want when you get things rolling.

Also, and this is me being a dick, but proper spelling and punctuation would be a good idea as well. Not sayin' just sayin'.

haha yeh bruvva this be me forum tlk :)

but on a serious note, i know to write fully and punctuate properly on a professional website :)

ok cool, yeh i have the website design done and dusted (pretty much) just got to get things running on the business side of things.
cheers guys
gonna have some fun reading into all this

Bo Eder 06-14-2011 02:07 AM

Re: quick business lesson please :P ?
 
Quote:

Originally Posted by Nick G. (Post 854350)
so basically, im going to start doing online sessions for people
and im creating a website, i will obviously be charging for this service

so heres the question

do i need to set the website up as a business or can i leave it as a personal site that i could potentially be earning money off ?

Cheers,
Nick

I would just start doing it, and then when you make enough money off of it to where you have to pay taxes on it (here in the States I think you pay taxes on services you provide when you make more than $600 a year with it), you can either keep track of all expenses and continue the same way, or finally create a separate site and then create separate bank accounts for it. But basically the reason you want everything separate is in the event that you get a client that you make unhappy, if he decides to sue, you want him to sue your business, not you personally. If all the money is tied together it's difficult to know where the line is and you could lose all your personal property as well in the ensuing legal battle.

DrumEatDrum 06-14-2011 02:50 AM

Re: quick business lesson please :P ?
 
Quote:

Originally Posted by Nick G. (Post 854378)

also, if im going to be making money off of this, should i have it registered as a business? bearing in mind im 18 and still in full time education so i dont pay tax just yet :)

I'm not sure about the UK, but in the US, if you make more than $600, you are responsible for reporting taxes, regardless of your age.

As for as a website, the "business" option is there because it offers more space, and usually many more features, like a plug to accept credit cards, or such.

eddiehimself 06-14-2011 11:49 AM

Re: quick business lesson please :P ?
 
Quote:

Originally Posted by Nick G. (Post 854378)
also, if im going to be making money off of this, should i have it registered as a business? bearing in mind im 18 and still in full time education so i dont pay tax just yet :)

You have to pay tax if you earn more than a certain amount of money no matter how old you are in the UK. It's about £3 or 4 grand iirc.

jingscrivenshelpmaboab 06-14-2011 03:33 PM

Re: quick business lesson please :P ?
 
You dont need to pay tax if you earn less than £7475 per annum in TOTAL.
Being self employed, you will need to file a tax return before the end of the financial year. Also, if you have a part time job, that is included in your total earnings.
If you earn between £137-£817 a week, you pay 12% National Insurance.
If you earn from £7475-£35k a year, you will pay 20% income tax.

I think that about covers it.

RollingStone000 06-14-2011 09:01 PM

Re: quick business lesson please :P ?
 
@Nick G: Just messing with ya man. But, yeah this is the boring and mind numbing part, although if you can get past the legal crap the rest should be a relative breeze.

GRUNTERSDAD 06-16-2011 06:25 PM

Re: quick business lesson please :P ?
 
The first thing i would do is come up with a better name. The website will end in dot UK if I'm correct, and you aren't giving me a clue as to what you do. Do you make drums, do you sell drums, do you give lessons? Websites should jump out and grab you. Spend some time thinking first of all on a great name and then you can put headers that say, Personal, Store, Lessons, Biography, Videos, Photos etc. The sky is the limit.

eddiehimself 06-16-2011 08:05 PM

Re: quick business lesson please :P ?
 
Quote:

Originally Posted by GRUNTERSDAD (Post 855365)
The first thing i would do is come up with a better name. The website will end in dot UK if I'm correct, and you aren't giving me a clue as to what you do. Do you make drums, do you sell drums, do you give lessons? Websites should jump out and grab you. Spend some time thinking first of all on a great name and then you can put headers that say, Personal, Store, Lessons, Biography, Videos, Photos etc. The sky is the limit.

yeah that's what he said, .co.uk ...

GRUNTERSDAD 06-16-2011 11:02 PM

Re: quick business lesson please :P ?
 
My point was that in itself make the business side of it a bit limiting. I for instance am not going to travel to the UK for lessons, or probably by product with shipping and tarrifs and the like , but I may be interested if it is on line lessons. The Web title needs to be a bit more expressive.

jabionsann 07-27-2011 10:36 AM

Simplemente me sorprendieron, fué un momento mágico
 
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