Glossary
Domain Name
Every website has a domain name. If your website address is www.mydomain.co.uk, then your domain is the mydomain.co.uk bit. Technically, the full http://www of your web address is called the URL, which stands for Unifirm Resource Locator. Domain names must be renewed periodically, to ensure you retain the exclusive right to use them.
Hosting
For a website to be visible to the outside world, it must be hosted somewhere. This service is provided by many different companies, all with their own charging structure. Beware of 'free' hosting - these usually recoup their fees in the form of higher renewal fees and often have a reduced level of service. Most businesses go for a 'managed' service, where the company providing the hosting has a duty to ensure the website is up and running at all times and who also provide some form of assistance when things go wrong. IAS Solutions provide a managed service with a variety of price tariffs.
Renewal
If you own a domain name, then periodically you have to renew your ownership of it. This can range from every two years for most .uk domains to upto 10 years or more, for the likes of .com and .net. Renewal is usually handled by your hosting provider or ISP.