Setting up in the UK.

Discussion in 'General Shop Talk' started by K_Pugh, Jun 28, 2008.

  1. K_Pugh

    K_Pugh No longer a newbie, moving up!

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    Hi,

    I would like some input from people within the UK who have set up their own photography business. Basically i'm looking for some information/tips on logically and legally setting out.

    Before anyone jumps in saying that it's not a easy, fun, glamorous business to get into i would just like to say that i already know that! I've just quit my fulltime job (which was a big decision, even before i got offered a 20% rise) to dedicate most of my time to this. I know realistically it's not going to be very profitable initially but i'm not in it for the money.. i'm in it to do something i love doing and hopefully provide a decent service for people - i wouldn't even consider this if i didn't think i could be good enough to be successful.


    I haven't set up my own business before and i would appreciate some guidance from people that have been there before, here's what i have:

    1. Becoming Freelance & Registering as a Limited company
    Any good information/tips to watch out for here?

    2. I've already got webspace and a domain name. I know of 2 good web designers that will help me with designing, too.

    3. Personal Indemnity insurance, will i really need this? or any other insurance? I'm assuming i will need the above mentioned insurance, which shouldn't be expensive anyway.

    4. Marketing, Advertising, Etc etc.. i've got some ideas and i'm sure there's many many ways of doing this but i have the time to do so - any tips/ideas would be appreciated also.

    5. As i dont have studio space i'm thinking that a selling point for portraiture work could be operating at the clients own environment. I think this would also work better for me as the client would be more relaxed and easier to work with?.

    Which brings me to the sort of work i'd like to do.

    -Portraiture & Weddings Etc (obvious choice really)
    -Events (sports, racing, rallies, gigs, etc)
    -Car Photography (could get work from shooting racing etc, and there's a lot of car nuts around here that i know of)
    -Photojournalism (this would be preferred although i'm thinking it would be very difficult to get into)

    Anything really except studio work.

    I know it's going to be very difficult and i know it's a long, long road ahead but i've got the time and dedication to try make this work. I know the biggest thing is marketing yourself correctly and getting contacts, word of mouth etc and that's half the battle but any tips on anything would be kindly appreciated.. especially the legal issues here in the UK.

    Any publications or the likes that would be advantageous that i should consider purchasing?
     
  2. Moglex

    Moglex TPF Noob!

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    Talk to an accountant before you set up a limited company.

    You may be better off on schedule D.

    Also remember VAT. You may not be expecting to make that much but if yo're getting prints and selling them on the the client it all counts. May not be something to worry about at the outset but always bear it in mind, those guys are viscious!
     
  3. K_Pugh

    K_Pugh No longer a newbie, moving up!

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    Thanks for your reply Moglex.

    I've been reading more and it seems registering myself as a Sole Trader would be a better idea?

    I wont be borrowing any money, loans etc so the financial liability being personal with being a Sole Trader shouldn't be anything for me to worry about as i can't see myself getting into any debt.

    Setting up as a sole trader seems all very straight forward, too. Keeping a track of my money should also be quite straightforward with a separate account to work out tax returns etc..

    Thanks for your help Moglex, and yeah, got to watch out for the tax man, he's nasty!

    Any sole traders here? that could just run down what it's like being so? i'd be interested to hear first hand experience before taking the plunge.
     

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