The 12 Days of Starting Your Own Business. Day 8

Day 8 in our a series of articles covering some of the main considerations if you’re thinking of setting up your own business.

Employing staff is no different whether you have chosen to be a sole trader / partnership or limited company. Pay As You Earn (PAYE) rules have to be abided by after registering with HMRC. Watch out for issues on minimum wage, auto enrolment pension schemes and the like, and don’t forget the HR element to employing staff, offering contracts of employment and terms and conditions. Sole traders can’t employ themselves, but limited companies can.

Follow this link to the HMRC website that has many helpful links for further information.