Hi, myself and a friend are in the process of setting up a business. We've been importing stock and are creating a website as we speak. We have no employees - it's just us. We've been told we need to inform HM Customs or tax within 3 months of starting trading, by sending them a letter.
Does anyone know what to say, and where to send it to?
Thread: Registering a partnership
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Registering a partnership – 06-08-2006,11:10 AM
- Join Date
- Jun 2006
I am not exactly sure because it differs from every state. You might want to inquire from your state's rules about that especially the IRS department. But usually you go there and make a declaration of your business. You have to file for a permit first.
Go with your local taxing authorities. Usually it is in the nearest City.
Also make sure both you and your partner have some kind of contract. You might be best friends now but maybe something happens some day.