I pride myself on being quite organised and a ‘together’ kind of person. However, I totally slipped up on my HMRC/Companies House duties. My thinking was that as I’m not selling anything yet and therefore not making any money, HMRC and Companies House don’t care about my business.i
INCORRECT MY FRIEND.
Once you register a company, it’s a matter of time before you’ll have to file certain documents and keep up to date with your HMRC and Companies House duties. Nothing makes me learn anything quicker than a penalty. So due to my negligence I have a few fines to pay now. The good news now is that it’s forced me to understand the process. I’ve also appointed an accountant to help me stay up to date and above board on all my responsibilities as a company director.
If I had to do it again I probably wouldn’t have incorporated Mummy’s Muse so early as the first year was a lot of research and the second year was a lot of set up.
Oh Friday night, how you’ve changed! I’m in bed with a cup of redbush tea as I write this. Elsa is singing ‘Let it Go’ on repeat faintly from the babies’ room and I’m a little on edge because in the back of my mind one of them may wake up at any moment, demanding …
I tried for a snappy title, I really did. Regulation isn’t the sexiest of topics, but my, it’s important. It’s important to me anyway. And it’s really challenging to get your head around. I need to start this post by saying I’m no expert. I definitely haven’t got it all worked out yet. However, after …
One product, many colourways vs. one colourway, many products. This month has been about establishing which 4 or 5 products I’m going to build my first range around. Initially I had the idea of only going with one item and producing it in many different colourways and designs. Since then for a number or reasons, …
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Get An Accountant…
…or get your head out of the sand.
I pride myself on being quite organised and a ‘together’ kind of person. However, I totally slipped up on my HMRC/Companies House duties. My thinking was that as I’m not selling anything yet and therefore not making any money, HMRC and Companies House don’t care about my business.i
INCORRECT MY FRIEND.
Once you register a company, it’s a matter of time before you’ll have to file certain documents and keep up to date with your HMRC and Companies House duties. Nothing makes me learn anything quicker than a penalty. So due to my negligence I have a few fines to pay now. The good news now is that it’s forced me to understand the process. I’ve also appointed an accountant to help me stay up to date and above board on all my responsibilities as a company director.
If I had to do it again I probably wouldn’t have incorporated Mummy’s Muse so early as the first year was a lot of research and the second year was a lot of set up.
One lives, (pays their fines) and learns.
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I tried for a snappy title, I really did. Regulation isn’t the sexiest of topics, but my, it’s important. It’s important to me anyway. And it’s really challenging to get your head around. I need to start this post by saying I’m no expert. I definitely haven’t got it all worked out yet. However, after …
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