As I have sold a few photographs and had a few published so far,
am I wondering whether I should set up a registered company.
The plus point in this ( I am assuming) is so I can claim Vat back on any equipment purchases I make in the future.
I dont think its costs very much to set up a company so are there any negatives?
(I am guessing there must be some or everyone would have a company set up.)
Like is there limits as to how much profit you need to make a year or can you just plod along breaking even?
More importantly is it fraud if you set up a company and dont sell anything? (Thinking worst case scenario).
Thanks
Pete.
am I wondering whether I should set up a registered company.
The plus point in this ( I am assuming) is so I can claim Vat back on any equipment purchases I make in the future.
I dont think its costs very much to set up a company so are there any negatives?
(I am guessing there must be some or everyone would have a company set up.)
Like is there limits as to how much profit you need to make a year or can you just plod along breaking even?
More importantly is it fraud if you set up a company and dont sell anything? (Thinking worst case scenario).
Thanks
Pete.