Form a company because of website?

Question

I am just about to launch a website. I will not be earning an income from the site initially, but this may change in the future if I start to add premium services.

Do I need to form a company, or will this only apply when I start to make revenues from the website?

Answer 1

There are expenses involved in setting up a website, which can be used to offset against tax. I'd suggest setting up a business now. Speak to an accountant on whether it better to set yourself up as a sole trader or a limited company and retain the services of the accountant.

Answer 2

Hi there



You don't need to form a company but you should really register as self-employed if you intend to make money from it. (See link below)



I'm guessing this is some kind of community building site - there are loads of ways of monetarising your community - we work with a few different ones, and I'd be happy to give you some tips! Just log onto the website and drop me a line.



Caroline

Answer 3

Form your company NOW! You'll be spending money to get it up and running and these expenses are tax deductible. You can find tons of places online to register your corporation. Good luck but do this soon!

You also want to move any liabilities that may arise away from you personally by forming your company.

Answer 4

See how your website goes before you start thinking about turning it into a business! Most websites get very little traffic.

Answer 5

I think it only applies when you start getting income from it.