Hello All, last year I became semi-retired, having spent most of my life in systems development. Having said that for the last few years I have been looking after the sales ledger, purchase ledger and cash book for a small company. Not being quite ready for the vegetable patch just yet, I decided to study with the AAT and have successfully passed levels 2 & 3, with plans to start level 4 in the autumn. I feel confident that I can create the P&L and balance sheet for sole traders, but obviously before doing this I have to create my own business. I have looked on the HMRC website and previous posts on this forum to gain some idea of how to setup a business. Thanks for your patience now for the question;
Does anyone have a list of the steps that I must take?
1) Select a name - any do's or dont's
2) Inform HMRC
3) Take out professional indemnity. What is MLR?
4) Am I allowed to complete the P&L / BS for sole traders? Do I have to inform anyone?
5) I would also wnat to complete their tax returns and possibly their vat returns.
