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Governing body for the self employed?

  • Does anybody know if there is a governing body for those that run a business self employed? I know you can register with companies house if you are VAT registered, but is there anything for those are not. Any help would be greatly appreciated. Thanks

  • Answer:

    Not as far as I know. Maybe you could be more specific about what you might want from a governing body for self employed?

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As has been said elsewhere, it's only limited companies that register at Companies House. VAT registration is totally separate. It applies to businesses with a turnover over £68K approx and for those with a lower turnover who choose to register so that they can recover the VAT they pay on raw materials etc. All businesses are required to register with Inland Revenue within 3 months of setting up. Many businesses register with Trading Standards but not all do and it's not compulsory. Some businesses belong to the Forum of Private Business, others the Federation of Small Businesses. There are governing bodies for specific industries and disciplines within them. For example, therapists can register with the Guild of Complementary Therapists and there are also bodies for specific therapies such as hypnotherapy and acupuncture.

Rosemary P

The governing body is probably the Tax man.!! Not all small businesses need to register with Companies House or be VAT registered, it depends on their gross income. My husband and my son are both small business owners, they are sole traders , they don't employ anyone,so are not required to register with Companies House or be VAT registered at the moment However a self-employed tradesman would have a relevant governing body like Corgi for plumbers, gas fitters, heating engineers etc Obviously they run their businesses professionally, or they would not be in business very long,but your question is an interesting one to ponder

Jan409

No. You're on your own. You need to tell HMRC so they can collect tax and National Insurance and some industries such as financial services are regulated, but there's no overall regulator for self-employed individuals.

old know all

There's no governing body. You are answerable to the tax man, and have to trade within Trading Standards guidelines. If you require help then your best bet is an Accountant.

Cala

No, there is not.

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