|
|
Choose
a business name, where appropriate, and register this with the Registrar
of Corporate Affairs and Intellectual Property. Submit a copy to the Comptroller
of Customs and the Commissioner of Inland Revenue. |
|
|
Seek
advice about an appropriate accounting system and maintain it from the
start of your business. |
|
|
Establish
a trading period. This must be approved by the Commissioner if other than
a fiscal period ending on 31st December. |
|
|
Notify
the Commissioner about your business. viz.. the name, the address and
the activities if you are employing staff obtain relevant information
from the PAYE section of Inland Revenue |
|
|
Enquire
from the National Insurance Office about National Insurance contributions
for yourself and staff. |
|
|
Your
first year's prepayments must be determined by the Commissioner of Inland
Revenue. An application containing, the Income and Expenditure statement
of the business must be submitted to the Commissioner of Inland Revenue
at least one (1) month (May 15''') before your first prepayment is due. |
|
|
A prepayment
of income tax is to be made by self-employed individuals on June 15, September
15, and December 15. |
|
|
Keep
all business records safely; these should only be destroyed if the Commissioner
gives written permission. |
|
|
Ensure
that your income tax return is filed each year whether you make a profit
or loss. |
| |
Call:
430-3223 |
