Questions about setting up a console repair business

I'm thinking of setting up a smallish games console repair business but don't have a clue as to where to start legally. Can anyone me?

1:) Do I have to display a VAT number on my web page?

2:) Would I need to display DSR regulations or do I need to mention them?

3:) Can I register as a sole trader if there are at least three of us involved?

4:) Would it be ok for me to sell backup software instead of the originals?

5:) Can I pass the responsibility for copying cd's over to the customers by getting them to tick a little box when they buy it?

You only display your VAT number if you apply for one, and I dont think you want to be charging your customers VAT do you?

3) Yes, its a business, pretty easy to work it out..

4) NO.

5) NO.

This doesn't seem like a business, more like an illegal games copy service?

Console repair business - fair enough, but the business isn't there.

Console repair business which includes selling copied games - illegal.

1. Only if you are vat registered and have been given a vat number and then, if you are displaying a price, you must make it clear it is plus vat or, including vat, at what % rate, and provide your vat reg number somewhere.

2. You need to adhere to them. Check this out for more details:

http://www.berr.gov.uk/whatwedo/consumers/fact-sheets/page38102.html#

3. You will each register as sole traders in your own right, but you will have one set of accounts for the business. You will each pay tax and NI where due.

4. No

5. No

if there are three of you working together, and you all have some ownership of the business then it may be worth considering working as either a limited liability partnership or limited company.

Just wondering if there enough broken games consoles in Sheffield to keep 3 of you busy full time? Bearing in mind second hand & resale values are probably lower than a used skoda..

Where would you be based & why would DSR apply? Would you accept consoles posted in?

I'm thinking of setting up a smallish games console repair business but don't have a clue as to where to start legally. Can anyone me?

 

1:) Do I have to display a VAT number on my web page?

2:) Would I need to display DSR regulations or do I need to mention them?

3:) Can I register as a sole trader if there are at least three of us involved?

4:) Would it be ok for me to sell backup software instead of the originals?

5:) Can I pass the responsibility for copying cd's over to the customers by getting them to tick a little box when they buy it?

1) Only if you are VAT registered. You MUST be VAT registered if your

turnover exceeds £67000. That's turnover, not profit. If you are not VAT registered you must not charge VAT or claim your items are inclusive of VAT.

2) No but you need to abide by them if you are selling items through the post for example.

3) Yes, but an accountant would better explain that fully.

4) Of course not. That's totally illegal. Otherwise they'd be a million of other

companies doing the same.

5) Erm no. Or the piratebay would have a box that you ticked saying you owned the original as well. That is not a get out clause for copyright infringement.

Just to add, Microsoft already handle most of the XBOX repairs, so you'd be limited to those few out of warranty and not covered by the extended warranty programme, plus Nintendo Wiis and PS3s, and maybe the hand helds.

I don't think it's a very large market.

If three people are involved in a business then you should register as a partnership.

One set of accounts will be prepared for the partnership as a whole and a partnership tax return prepared.

Profits will be split equally three ways, or in whatever ratio the partners agree.

Each partner then has to prepare a self assessment tax return where they declare their share of profits from the partnership.

It is the responsibility of each partner to pay their tax and national insurance which is due.