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</tr> <tr valign="top"><!-- row 17 --> <td><a href="businessplans.htm" onMouseOut="MM_swapImgRestore();" onMouseOver="MM_swapImage('sabiinavbar2_r16_c2','','sabiinavbar2_r16_c2_f2.gif','sabiinavbar2_r17_c2','','sabiinavbar2_r17_c2_f2.gif',1);" ><img name="sabiinavbar2_r17_c2" src="sabiinavbar2_r17_c2.gif" width="104" height="28" border="0"></a></td> <td><img src="shim.gif" width="1" height="28" border="0"></td> </tr> <tr valign="top"><!-- row 18 --> <td><a href="implementation.htm" onMouseOut="MM_swapImgRestore();" onMouseOver="MM_swapImage('sabiinavbar2_r18_c2','','sabiinavbar2_r18_c2_f2.gif',1);" ><img name="sabiinavbar2_r18_c2" src="sabiinavbar2_r18_c2.gif" width="104" height="29" border="0"></a></td> <td><img src="shim.gif" width="1" height="29" border="0"></td> </tr> <tr valign="top"><!-- row 19 --> <td><a href="index.htm" onMouseOut="MM_swapImgRestore();" onMouseOver="MM_swapImage('sabiinavbar2_r19_c2','','sabiinavbar2_r19_c2_f2.gif',1);" ><img name="sabiinavbar2_r19_c2" src="sabiinavbar2_r19_c2.gif" width="104" height="29" border="0"></a></td> <td><img src="shim.gif" width="1" height="29" border="0"></td> </tr> <tr valign="top"><!-- row 20 --> <td><img name="sabiinavbar2_r20_c2" src="sabiinavbar2_r20_c2.gif" width="104" height="12" border="0"></td> <td><img src="shim.gif" width="1" height="12" border="0"></td> </tr> <!-- This HTML was automatically created with Macromedia Fireworks 3.0 --> <!-- http://www.macromedia.com --> </table> <P> <ADDRESS> <br> <B><I> </I></B> </ADDRESS> </td> <!--THIS IS THE SECOND COLUMN IN THE TABLE --> <td width=400 valign="top"> <H5 CLASS="green"><B>Formalities: <BR> Registering for taxation</B></H5> Businesses in Britain are subject to: <BR> <UL> <LI>Income tax  Sole traders and partnerships on their profits <LI>Corporation tax  Limited companies on their profits <LI>Value added tax (VAT)  All businesses with turnover in excess of £56,000 <LI>PAYE/NIC  All businesses with employees (including owner/directors). </UL> <P> Two agencies are involved: <BR> <UL> <LI>Inland Revenue - for Income tax, Corporation Tax and National Insurance Contributions <BR> <LI>HM Customs & Excise - for VAT. </UL> <P> It is <B>your</B> obligation to notify the Inland Revenue/HM Customs & Excise through your local tax office of the establishment of your business and to provide them with the information required to register your business for the relevant taxes. <BR> <P> Your starting point is to get a copy of the Inland Revenue/HM Customs & Excise <I><B>Starting in Business?</B></I> pack by telephoning 08457 646 646, contacting your local tax office, or through <A HREF="http://www.inlandrevenue.gov.uk">www.inlandrevenue.gov.uk</A>. <P> You should also consider attending a Business Advice Open Day - telephone 0121 697 4065 for more information. <P> Shortly after registration, you will receive a  new Business Visit from a tax official who will go through the requirements to ensure that you have proper systems in place. <P> <P> <HR> <P> Now move on to consider the other aspects of formalities: <BR> <UL> <LI><A HREF="formlegstruct.htm">Choosing and registering a legal structure for your business</A> <LI><A HREF="formbusname.htm">Naming your business</A> <LI><A HREF="formregtax.htm">Registering for taxation</A> <LI><A HREF="formaccount.htm">Setting up accounting systems</A> <LI><A HREF="formlegregs.htm">Ensuring that your business meets all applicable legislation and regulations</B> <LI><A HREF="formstand.htm">Ensuring that your business meets all appropriate quality standards</A> <LI><A HREF="formbank.htm">Opening a bank account</A> <LI><A HREF="forminsur.htm">Arranging for appropriate insurance</A> <LI><A HREF="formipr.htm">Protecting your business' intellectual property</A>. </UL> <P> <p> <p> <br> </td> <!-- START OF THRID COLUMN --> <td width=120 valign="top"> </td> </table> <P> <HR align="center" width="600" color="green"> <P> <ADDRESS> <SCRIPT LANGUAGE="JAVASCRIPT" TYPE="TEXT/JAVASCRIPT" 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