Getting Started Tasks
I made a list of things I wanted to do before starting my attempt to earn extra income. Time will tell if the list is complete or contains stuff I didn’t need to do. Here I’m sharing my getting started tasks.
I intend to post a follow up of lessons learned in a couple of months.
Before creating a website
Create a limited company – An expensive route to take, but I wanted the financial protection a limited company would give me. Forming a limited company online yourself is trivial at https://www.gov.uk/limited-company-formation/overview. Or there are companies that will do it for you. I used http://www.1stformations.co.uk at the cost of £13.19. I’m hoping to get cashback setting up a business bank account via them and you get a free .co.uk domain.
Financial Records Spreadsheet – Keeping good records is essential, so I just downloaded a decent template via google.
Open business bank account – Just as keeping records is essential, keeping the money separate is a good idea too.
Company Email – I wanted a separate email account to keep things separate.
Find an accountant – An essential for a limited company. From what I’ve read, I might be able to file my annual returns myself, but it would be a lot of work. I’d rather spend those hours elsewhere. I haven’t actually done this yet, which might prove to be a mistake.
Register a domain – I did this through names.co.uk as I got it free with the company registration, but there are loads of options available.
Buy site hosting – This site is on Tsohost (affiliate link) and I couldn’t be more impressed. I’ve asked several “stupid” questions using their ticket system and have no complaints. If you’re looking to build a site, I definitely recommend them.
Install WordPress Themes and Extensions – Part and parcel of WordPress are extensions. I’ve added one for caching (speed up the site), backups (essential) and SEO so far.
Google Analytics – This is simple to setup via a WordPress extension.
After website setup
I haven’t done any of this yet, but this is about getting the word out there that the site exists.
Create a Twitter account
Create a Facebook page – not sure if I’ll do this, but it’s an option
Marketing – no idea how, but definitely need this!
Register for Self-Assessment – As a director of a limited company, you must register for self-assessment. Thankfully that’s easy at https://www.gov.uk/register-for-self-assessment/not-self-employed
Register for Corporation Tax – Another legal requirement. HMRC will send me a UID to register. I haven’t got this yet, so can’t say.
Quite a long list but that covers everything I thought of. Please let me know in the comments below if you think I’ve made a mistake.