by hussein » Sun Jul 01, 2012 12:18 am
You need the permission of your landlord. If he has a mortgage on the property then he needs the permission of his mortgage lender to use the property for commercial purposes. The building insurer needs to be notified and the premium may go up. And yes, you MUST get something in writing from the landlord otherwise he could later claim that you are in breach of contract.
If you want to have customers coming to the property then that takes the whole thing onto a whole new level and there will be issues with the local council regarding trading in a residential area, neighbours can object to the increase in traffic and noise, insurers can object and charge the property as a commercial property.
You also need public liability insurance in your own name - not a legal requirement but sheer stupidity to trade without it.
Yes, you do have to inform HMRC that you are earning money, and you have to keep adequate records - even if your earnings are below the tax threshold you are still legally required to do this.