3 Legal Considerations for Every Trade Business Owner

As a trade business owner, it’s important that you know your legal obligations. Although this can be a time consuming task, it’s worth it if you want to stay on the right side of the law. To make things a little easier for you, we have put together a little list of some major legalities you should consider.

1. Make Sure You Have the Correct Insurance

In any industry, problems arise and emergencies happen. This is particularly true for tradesmen, who often work in dangerous conditions. That’s why you should be properly insured, which you can easily achieve via the trusty World Wide Web. If you are employing staff, whether on a temporary basis or full-time, you will also need employers’ liability insurance.

2. Don’t Forget to Pay Your Taxes

It may sound obvious to some, but many people actually forget to declare themselves as a business owner before starting work on a project. In fact, in the UK, telling the tax man you have set up a business is one of the first things you should do. All you have to do is register yourself as self-employed and send off a tax return and you won’t land yourself in trouble with HMRC.

3. Ensure You Have a Refunds Policy

When a customer doesn’t like the finished result of your handiwork, they may complain and request a refund. However, according to law, as long as you have completed your end of the bargain, the project is finished to a high standard and all time schedules have been met, then the customer is not in fact eligible for their money back. It’s important to protect yourself from customers like this, who may demand a refund just because they’ve changed their mind about the colour of the paving or size of the panels, by issuing them with a full refund policy before the project begins.