What new businesses get wrong.
NOT FILING ANNUAL RETURNS
Penalties accumulate quietly until you need a document urgently.
MIXING BUSINESS AND PERSONAL MONEY
Makes accounting difficult and obscures whether you are profitable.
NO RECORDS FROM THE START
Reconstruction is expensive and sometimes impossible.
ASSUMING SOMEONE ELSE FILES
Confirm explicitly what your accountant does and does not handle.
REGISTERING THROUGH AN AGENT WHO REMAINS THE CONTACT
Ensure you are the registered proprietor or director.
NO WRITTEN TERMS WITH CUSTOMERS OR STAFF
The origin of most disputes.
IGNORING SECTOR LICENCES
Registration alone is frequently insufficient.
NO PRIVACY NOTICE
Required, and frequently absent.
NOT KEEPING REGISTRATION DOCUMENTS SAFE
You will need them repeatedly.
DOMAIN REGISTERED BY SOMEONE ELSE
Losing control of your business identity.
ASSUMING SMALL MEANS EXEMPT
Most obligations apply regardless of size.
