13/05/2011

Keeping on the right side of the law

By Jason Sullock, New Customer Marketing Manager, Sage

It may seem that the law is a minefield of potential pitfalls for new business owners. However, by undertaking some simple research you can achieve the peace-of-mind of knowing that you’re operating within the parameters of the law.

Before a company is even established, there are legal factors to consider. For example, the category of registration that defines your business will inform your legal obligations. Will you be registered as a self-employed sole trader, are you going into partnership or will your company be a limited liability partnership (LLP) or limited company? Sage’s white paper 'Keeping on the Right Side of the Law' can help you navigate this initial question of how your business will be recognised by the law.

Dealing with tax and financial administration can be challenging when you’re new to the business world. 'Keeping on the Right Side of the Law' offers guidance to help you prepare to meet your legal obligations on topics like VAT (value added tax) and PAYE (pay-as-you-earn tax). The white paper outlines everything from setting a date for your first financial year to registering to pay VAT.

When you run your own business, complying with employment law is one of the more complex areas you’ll have to tackle. With the authority of becoming an employer comes the responsibility of complying with employment legislation — which needs to be properly adhered to in order to protect you and your employees. As well as anti-discrimination legislation, you’ll need to deal with annual leave, flexible working, equal pay and the national minimum wage. At some point in the future, you may also need to understand and apply the law concerning redundancy, discipline, grievance and dismissals, sick pay, maternity, paternity and adoption.

From Starting Up to Sales and Marketing, 'Keeping on the Right Side of the Law' is your go-to document when it comes to keeping within the perimeters of the law. Use it for a steer in the right direction to remain legally compliant.

Download the whitepaper now on 'Keeping on the Right Side of the Law'.

Twitter: @sageuk
Website: www.sagehello.co.uk

Watch the video below featuring Paul Hepburn, Financial Accountant at Sage discussing the top tips for VAT and good sources of finance advice.

[tv-prg508-360x202]

Join us on