Kitz Forum
Chat => Tech Chat => Topic started by: sevenlayermuddle on July 19, 2012, 04:52:58 PM
-
Not sure if this is the right forum, I'll not be offended if somebody moves it...
I have an informal company/organisation name that I use from time to time as a 'brand name' for various activities, though it is very informal... not registered at Companies House, and not used for banking etc. Occasionally I make a few dollars, such as from Google Ads or my iPhone Apps (all fully declared for tax!) for example, which I bank under my personal accounts but for which I like to perceived as having a company identity.
It's been pointed out to me that I could make things more formal, and maybe open a few doors, by registering for what's called a DUNS number, which is an International database of all known company names. I had never heard of DUNS numbers until today. I wonder if any learned members may have come across them, and whether there is any downside to registering?
See http://www.dnb.co.uk/duns-number.asp
Thanks for any discussion,
7LM
-
Ive not heard of them before Im afraid.
-
I'd say it was irrelevant, it's for bigger businesses.
For an occasional trader just using a name (not conflicting in your area of business) is often enough.
You may eventually want to think about trademarks and copyright, but if you're just a sole trader (not a company) that's probably also not that important.
You might want to check on what constitutes "self-employed" status as you often need to pay NI, though there are exceptions.
-
I concur with HP Sauce, opinion coming from perusal of the application form and gut instinct. Te way that you describe your dealings enforces that feeling. more for corporates me thinks!
BTW how many of you know the term "dunned", that comes out of Dun and Bradstreet's existence?
-
BTW how many of you know the term "dunned", that comes out of Dun and Bradstreet's existence?
I did not know for sure but had wondered if there was a connection. Thank you for confirming it. :)
-
Folks, thanks for nearly all comments.
It transpires that, thanks to an unexpected turn of fexibility by a certain US vendor of mobile devices, I may not need a DUNS number after all. ;)
The exception, for which I am not at all grateful is...
You might want to check on what constitutes "self-employed" status as you often need to pay NI, though there are exceptions.
Oops HP, I see what you mean. I thought my conscience was clean per tax, but there's nic too. :o
We are not talking big bucks here (my App income currently averages about 15p per day :lol:) but suddenly I'm aware of paperwork I should have completed but haven't.
-
If you are self-employed you generally have to pay at least Class 2 contributions of £2.65 per week, BUT ( http://www.hmrc.gov.uk/working/intro/class2.htm ):
Exceptions to paying Class 2 National Insurance contributions
You don't have to pay Class 2 National Insurance contributions if any of the following apply:
•you are under 16
•you have reached State Pension age
•you're a married woman or widow who is entitled to pay reduced contributions
•your earnings are below a certain level - see 'If you have low earnings' below
•for complete weeks when you could not work if certain conditions are met - see 'Class 2 National Insurance credits if you could not work' below
(Just out of interest I am self-employed and have been for some years, but in recent years have had an "exemption" on Class 2)
BUT you do have to register (IF applicable) and then claim exemption. It will all tie in with Tax fairly seamlessly.
-
If you are self-employed you generally have to pay at least Class 2 contributions of £2.65 per week, BUT ( http://www.hmrc.gov.uk/working/intro/class2.htm ):
Exceptions to paying Class 2 National Insurance contributions
You don't have to pay Class 2 National Insurance contributions if any of the following apply:
•you are under 16
•you have reached State Pension age
•you're a married woman or widow who is entitled to pay reduced contributions
•your earnings are below a certain level - see 'If you have low earnings' below
•for complete weeks when you could not work if certain conditions are met - see 'Class 2 National Insurance credits if you could not work' below
(Just out of interest I am self-employed and have been for some years, but in recent years have had an "exemption" on Class 2)
BUT you do have to register (IF applicable) and then claim exemption. It will all tie in with Tax fairly seamlessly.
I was of course joking HP, thanks for your comments, I really do like to have a clear conscience as I'm one of these people who always get caught. Just not cut out for a life of crime, I guess.
BTW, if anybody thinks the UK tax system is complicated, take a look at the US, which I've also had to consider in recent weeks as I may wish to share some income (15p per day) with a US citizen. :silly: